Author Question: The following equations represent the demand and supply for bird feeders. QD = 35 - P QS = -5 + 3P ... (Read 111 times)

Medesa · **on:** Jun 29, 2018

The following equations represent the demand and supply for bird feeders.
QD = 35 - P
QS = -5 + 3P

What is the equilibrium price (P) and quantity (Q - in thousands) of bird feeders?

A) P = 5; Q = 30 thousand B) P = 35; Q = 20 thousand
C) P = 20; Q = 20 thousand D) P = 10; Q = 25 thousand

Question 2

Which of the following statements about an entrepreneur is true?

A) develops the vision for the firm and funds the producing unit
B) sells his entrepreneurial services in the output market
C) does not face personal risk
D) purchases other factors of production in the output market

bfulkerson77 · **Reply #1 on:** Jun 29, 2018

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