Scenario 9-1 ​

Multiple Choice

Scenario 9-1
​
For a small country called Boxland, the equation of the domestic demand curve for cardboard is Q^D = 210 − 2P, where Q^D represents the domestic quantity of cardboard demanded, in tons, and P represents the price of a ton of cardboard. For Boxland, the equation of the domestic supply curve for cardboard is Q^S = -90 + 3P, where Q^S represents the domestic quantity of cardboard supplied, in tons, and P again represents the price of a ton of cardboard.
-Refer to Scenario 9-1. If Boxland prohibits international trade in cardboard, then the equilibrium price of a ton of cardboard is

A) $47 and the equilibrium quantity of cardboard is 116 tons.
B) $53 and the equilibrium quantity of cardboard is 104 tons.
C) $60 and the equilibrium quantity of cardboard is 90 tons.
D) $82 and the equilibrium quantity of cardboard is 46 tons.