Answer to Question #305238 in Microeconomics for Babo

Question

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

Answer 1

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

$Q=50-P$

$\therefore 0= 50-P$

$P= 50$