Multiple Choice
Consider a market for fish whose market demand and market supply for fish is specified as Qd = 300 − 2.5P and Qs = − 20 + 1.5P, respectively. The equilibrium price and quantity is:
A) $40 and 200, respectively.
B) $80 and 100, respectively.
C) $100 and 80, respectively.
D) $100 and 130, respectively.
Correct Answer:
Verified
Correct Answer:
Verified
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