Q) The short-run market demand and supply for Kente cloth are expressed as follows: Demand: ? = 40−0.25? Supply: ? = 5+0.05? Marginal cost: −20 +4? a)The short-run level of output is ___________ metres. [1] 40.00 [2] 5.05 [3] 35.30 [4] 20.00 [5] 7.71

Q) The short-run market demand and supply for Kente cloth are expressed as follows: Demand: ? = 40−0.25? Supply: ? = 5+0.05? Marginal cost: −20 +4? a)The short-run level of output is ___________ metres. [1] 40.00 [2] 5.05 [3] 35.30 [4] 20.00 [5] 7.71

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 14PAE

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Question

Q) The short-run market demand and
supply for Kente cloth are expressed as follows:
Demand: ? = 40−0.25?
Supply: ? = 5+0.05?
Marginal cost: −20 +4?

a)The short-run level of output is ___________ metres.
[1] 40.00
[2] 5.05
[3] 35.30
[4] 20.00
[5] 7.71

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