Use the Following Demand and Supply Functions: Demand $Q _ { d } = 50 - 4 P$

Multiple Choice

Use the following demand and supply functions: Demand: $Q _ { d } = 50 - 4 P$ Supply: $Q _ { s } = 20 + 2 P$ Equilibrium price and output are

A) P = $5 and Q = 70.
B) P = $11 and Q = 3.32.
C) P = $12 and Q = 44.
D) P = $15 and Q = 50.
E) none of the above