A. Suppose the demand function for cable TV service is given by QCTV = 15 - 0.25xPCTV + 0.0005xM + 0.3xPSTV, QCTV is the quantity of cable TV demanded (thousands of households), PCTV is the price of cable TV, M is income and PSTV is the price of satellite TV service. Suppose consumers' income is $50,000 and the price of satellite TV service is $90. At what price would the demand for cable TV services be 55,000 households?
A. $67
B. $48
C. $12
D. There is not enough information to answer the question
B. Consider the relationship given by QCars = 100 + 4xPCars - 2xPSteel - .2xPWorkers, where is the quantity of cars (in thousands), is the price of cars and P is the wage earned by autoworkers. If the price of steel is $10 per unit and the price of workers (the wage) is $20, what is the supply curve for cars?
A. QCars = 140 + 4xPCars
B. QCars = 100 + 4xPCars - 2xPSteel - .2xPWorkers
C. QCars = 100 + 4xPCars
D. QCars = 60 + 4xPCars