Question

Suppose Qd=40-P and Qs= -2+2P. If Price equals 20, quantity demanded will be

Question 16 options:

	22
	18
	40
	10
	20

Question 17 (1 point)

Suppose Qd=40-P and Qs= -2+2P. What is the equilibrium price in this market?

Question 17 options:

	14
	2
	13
	20
	12.66

Question 18 (1 point)

Suppose Qd=40-P and Qs= -2+2P. What is the consumer surplus at equilibrium?

Question 18 options:

	39
	676
	169
	338
	14

Assume at a price of $22, consumer bought 180 units of the good per week. At a price of $26,consumers bought 120 units of the good per week. Using the arc elasticity formula, find the elasticity of demand.

Question 21 options:

	-12/5
	-4/11
	-5/12
	-111/4

Assume MU_X = 36 units of utility, MU_Y = 18 units of utility, P_X = $3, and P_Y = $2. This consumer

Question 29 options:

	should buy less of X and more of Y.
	should buy more of X and less of Y.
	should buy more of X and more of Y.
	should buy less of X and less of Y.
	is maximizing utility.

Assume that the marginal utilities for the first three units of a good consumed are 200, 150, and 125, respectively. The total utility when 2 units are consumed is

Question 30 options:

	200
	475
	100
	150
	350

Answer 1

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