What is the choke price for an individual whose demand equation is given by Q=200-4P?

The choke price refers to the price at which the quantity demanded for a product is zero. To find the choke price using the given demand equation ( Q = 200 - 4P ), we can set the quantity demanded ( Q ) to zero and solve for the price ( P ).

Setting ( Q = 0 ):

[ 0 = 200 - 4P ]

Rearranging the equation to solve for ( P ) gives:

[ 4P = 200 ] [ P = \frac{200}{4} = 50 ]

Thus, the choke price is $50. This means that when the price of the product is $50 or higher, the consumer will demand nothing, indicating the point where the demand curve intersects the price axis. Therefore, the correct answer is $50.