Question

# Suppose Qd=40-P and Qs= -2+2P. If Price equals 20, quantity demanded will be Question 16 options:...

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 MUX = 36 units of utility, MUY = 18 units of utility, PX = \$3, and PY = \$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