30. Consider a market in which there are 100 cap makers, each with an individual supply curve given by q =p and 1000 cap consumers, each with an individual demand curve given by q = 4.4 – 0.01p, where p is the price and q is the quantity. The equilibrium price is (a) 40 (b) 50 (с) 16 (а) 24 (e) 30

30. Consider a market in which there are 100 cap makers, each with an individual supply curve given by q =p and 1000 cap consumers, each with an individual demand curve given by q = 4.4 – 0.01p, where p is the price and q is the quantity. The equilibrium price is (a) 40 (b) 50 (с) 16 (а) 24 (e) 30

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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