Demand function for a commodity is D = 44 – 7P and supply function S = 2P –10, then the equilibrium price is:

Related MCQs

• At a price of Rs11.00, quantity demanded is 90; and at a price of Rs.9.00, quantity demanded is 110. The price elasticity of demand is:
• The market demand curve for a perfectly competitive industry is QD = 12 - 2P. The market supply curve is QS = 3 + P. The market will be in equilibrium if:
• The Price elasticity of demand for a product is 1.5 and its MR = 8, find its price:
• If the demand facing a monopolist is P = 100 − 10Q and marginal cost is constant at 20, then the profit maximizing price and quantity for this monopolist are:
• When elasticity of demand is 2, the demand will be:
• The elasticity of demand for the demand curve of a firm under perfect competition is
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• ______ function expresses the relationship between price of the good and quantity of the good demanded.