Suppose Qd=40P 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=40P 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=40P 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 
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