{"id":1088,"date":"2017-10-15T11:05:59","date_gmt":"2017-10-15T05:05:59","guid":{"rendered":"https:\/\/mcqacademy.com\/en\/mcq\/consider-a-market-characterized-by-the-following-inverse-demand-and-supply-functions-px-10-2qx-and-px-2-2qx-compute-the-equilibrium-price-and-quantity-in-this-market\/"},"modified":"2017-10-15T11:05:59","modified_gmt":"2017-10-15T05:05:59","slug":"consider-a-market-characterized-by-the-following-inverse-demand-and-supply-functions-px-10-2qx-and-px-2-2qx-compute-the-equilibrium-price-and-quantity-in-this-market","status":"publish","type":"mcq","link":"https:\/\/mcqacademy.com\/en\/mcq\/consider-a-market-characterized-by-the-following-inverse-demand-and-supply-functions-px-10-2qx-and-px-2-2qx-compute-the-equilibrium-price-and-quantity-in-this-market\/","title":{"rendered":"Consider a market characterized by the following inverse demand and supply functions: PX = 10 – 2QX and PX = 2 + 2QX. Compute the equilibrium price and quantity in this market."},"content":{"rendered":"","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","topic":[59],"subject":[5],"class_list":["post-1088","mcq","type-mcq","status-publish","hentry","topic-demand-and-supply","subject-managerial-economics"],"mcq_note":"Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX. Compute the equilibrium price and quantity in this market.ans:$6 and 2 units, respectively.","mcq_options":[{"right":"no","answer":" $24 and 24 units, respectively. "},{"right":"no","answer":" $4 and 4 units, respectively."},{"right":"no","answer":"$2 and 6 units, respectively. "},{"right":"yes","answer":"$6 and 2 units, respectively. "}],"multi_answers":"no","subject_terms":[{"id":5,"title":"Managerial Economics","slug":"managerial-economics"}],"topic_terms":[{"id":59,"title":"Demand and Supply","slug":"demand-and-supply"}],"_links":{"self":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/mcq\/1088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/mcq"}],"about":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/types\/mcq"}],"author":[{"embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/comments?post=1088"}],"wp:attachment":[{"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/media?parent=1088"}],"wp:term":[{"taxonomy":"topic","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/topic?post=1088"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/mcqacademy.com\/en\/wp-json\/wp\/v2\/subject?post=1088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}