Answer to Question #305238 in Microeconomics for Babo

Question #305238

If a quantity demand Q=50-p, how much will be a price at a minimum production?

Expert's answer

Choke price is an economic term used to describe the lowest price at which the quantity demanded of a good is equal to zero.

"Q=50-P"

"\\therefore 0= 50-P"

"P= 50"

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