micro ques.

Posted by Nikkita on Feb 20, 2017; 3:31pm
URL: http://discussion-forum.276.s1.nabble.com/micro-ques-tp7603246.html

Assume that the demand for sporting guns is described by QD = 100-2p and the supply is described by QS = -20 + p (QD and QS are in millions, p is in $). Compute the total value created in the market for sporting guns.

a)      100

b)      200

c)       300

d)      400

(Correct ans. =300)..how?