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Question 15 Correct Suppose the demand for Good X is given by: Qp= 83 -5Px. Calculate the choke price. (Do not include a $ si

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Answer #1

Choke price is the price at which the quantity demanded would be zero

setting QD=0

0= 83-5P

5P=83-0

P= 83/5

= 16.6

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