The median of an odd-numbered set of scores is the
Middle value in the set
Highest value in the set
Arithmetic means of the set
Most frequent occuring score
Correct answer is A
The median is the middle number in a sorted, ascending or descending, list of numbers.
Individual markets differ from each other according to
The degree of competition
The volume of trade
The number of buyers
It's composition
Correct answer is A
No explanation has been provided for this answer.
One of the factors affecting the supply of manufactured goods is
Weather
Technology
Consumer tastes
Availability of inputs
Correct answer is B
The following are Some of the factors that influence the supply of a product
Use the information below to answer this question.
30
22
12
8
Correct answer is B
Given that Qd = 20 - 4P and Qs = 6P + 12
To solve for excess supply, we will have to substitute '3p'' into both sides of the equation. Hence we have;
Qd = 20 - 4(3) and Qs = 6(3) + 12
20 - 12 = 8
18 + 12 = 30
30 - 8 = 22
Given that Q d = 20 - 4P and Q = 6P + 12
Determine the equilibrium quantity
14.2
16.8
20.8
30.2
Correct answer is B
Q d = 20 - 4P and Q = 6P + 12
Qd = Qs
20 - 4p = 6p + 12
20 - 12 = 8
6p + 4p = 10p
p = 8/10 = 0.8
Substitute '0.8' in Qd equation. Hence we will have
Qd = 20 - 4 (0.8)
Qd = 20 - 3.2 = 16.8