(Advanced analysis) Answer the question on the basis of the following information. The demand for commodity X is represented by the equation P = 10 - 0.2Q and supply by the equation P = 2 + 0.2Q. Refer to the given information. If demand changed from P =
10 - .2Q to P = 7 - .3Q, the new equilibrium quantity is:
A. 10.
B. 20.
C. 15.
D. 30.
Answer: A
Economics
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Refer to Figure 2-8. If Vidalia chooses to produce 60 dozen orchids, how many roses can it produce to maximize production?
A) 30 dozen roses B) 50 dozen roses C) 100 dozen roses D) 150 dozen roses
Economics
Recent trends toward trade restrictions have been to _____.
(A) Increase trade barriers. (B) Lower only those trade barriers related to technology. (C) Shield a country's automobile industry. (D) Decrease trade barriers.
Economics