19 of 38 In the market for designer shoes, the demand function (D) is Q=210-1.00P, where P is the price paid by consumers in dollars per pair of designer shoes and Q is the quantity demanded in thousands. Suppose the supply curve (S) for designer shoes is estimated to be: Q=1.00P Given this information, the equilibrium price and quantity (respectively) for designer shoes would be given by: O A. P=$115; Q=125,000 O B. P=$135; Q=165,000 O C. P=$105; Q=105,000 O D. P=$125; Q=145,000 Unsure
19 of 38 In the market for designer shoes, the demand function (D) is Q=210-1.00P, where P is the price paid by consumers in dollars per pair of designer shoes and Q is the quantity demanded in thousands. Suppose the supply curve (S) for designer shoes is estimated to be: Q=1.00P Given this information, the equilibrium price and quantity (respectively) for designer shoes would be given by: O A. P=$115; Q=125,000 O B. P=$135; Q=165,000 O C. P=$105; Q=105,000 O D. P=$125; Q=145,000 Unsure
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 45CTQ: Suppose both of these events took place at the same time. Combine your analyses of the impacts of...
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![19 of 38
In the market for designer shoes, the demand function (D) is Q=210–1.00P,
where P is the price paid by consumers in dollars per pair of designer shoes and
Q is the quantity demanded in thousands. Suppose the supply curve (S) for
designer shoes is estimated to be: Q=1.00P. Given this information, the
equilibrium price and quantity (respectively) for designer shoes would be given
by:
O A. P=$115; Q=125,000
O B. P=$135; Q=165,000
O C. P=$105; Q=105,000
O D. P=$125; Q=145,000
Unsure](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F418f4743-ad20-48ba-82c6-29c3c35b7648%2F38392062-d7f7-477c-9ec9-fdbe2cf47fb0%2Fow7864q_processed.jpeg&w=3840&q=75)
Transcribed Image Text:19 of 38
In the market for designer shoes, the demand function (D) is Q=210–1.00P,
where P is the price paid by consumers in dollars per pair of designer shoes and
Q is the quantity demanded in thousands. Suppose the supply curve (S) for
designer shoes is estimated to be: Q=1.00P. Given this information, the
equilibrium price and quantity (respectively) for designer shoes would be given
by:
O A. P=$115; Q=125,000
O B. P=$135; Q=165,000
O C. P=$105; Q=105,000
O D. P=$125; Q=145,000
Unsure
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