Consider the following model of a market for hats in which Qs is quantity of hats produced, Qd is quantity of hats purchased and P is the price of a hat. Qs=5+12P Qd=50-3P if production conditions change so that Qs=-10+12P, what will be the change in Q*? compared to the value 41, such that Q*=Qs=Qd remains true? a. 4 b. -3 c. -4 d. 3
Consider the following model of a market for hats in which Qs is quantity of hats produced, Qd is quantity of hats purchased and P is the price of a hat. Qs=5+12P Qd=50-3P if production conditions change so that Qs=-10+12P, what will be the change in Q*? compared to the value 41, such that Q*=Qs=Qd remains true? a. 4 b. -3 c. -4 d. 3
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter1: Expressions And Functions
Section1.8: Interpreting Graphs Of Functions
Problem 4GP
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Consider the following model of a market for hats in which Qs is quantity of hats produced, Qd is quantity of hats purchased and P is the price of a hat.
Qs=5+12P
Qd=50-3P
if production conditions change so that Qs=-10+12P, what will be the change in Q*?
compared to the value 41, such that Q*=Qs=Qd remains true?
a. 4
b. -3
c. -4
d. 3
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