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Let the Demand and Supply Functions Be Represented by D(p)and D(p)=576050pS(p)=250p1440\begin{array}{l}\mathrm{D}(\mathrm{p})=5760-50 \mathrm{p} \\\mathrm{S}(\mathrm{p})=250 \mathrm{p}-1440\end{array}

Question 57

Multiple Choice

Let the demand and supply functions be represented by D(p) and S(p) , where p is the price in dollars. Find the equilibrium price and equilibrium quantity for the given functions.
D(p) =576050pS(p) =250p1440\begin{array}{l}\mathrm{D}(\mathrm{p}) =5760-50 \mathrm{p} \\\mathrm{S}(\mathrm{p}) =250 \mathrm{p}-1440\end{array}


A) $28;4360 \$ 28 ; 4360
B) $36;3960 \$ 36 ; 3960
C) $28;4560 \$ 28 ; 4560
D) $24;4560 \$ 24 ; 4560

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