If the quantity of jelly beans supplied is represented by the equation QS = -20 + 4P then the corresponding price of jelly beans is represented by the equation
A) P = 2.5 - 4QS. B) P = 0.25QS + 5. C) P = 4QS - 80. D) P = 0.5QS + 80.
B
Economics
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In the classical view, flexible wage rates would assure
A) low inflation. B) high rates of unemployment. C) high secular inflation rates. D) full employment.
Economics
The aggregate supply curve is
a. a schedule showing the relationship between the price level and the quantity of real GDP supplied. b. usually upward sloping. c. relatively flat at low levels of resource utilization. d. All of the above are correct.
Economics