Multiple Choice
Suppose that the demand curve for brown rice is given by P= 50,000 - 3Q2, and supply is P = -10,000 + 3Q2. The equilibrium price is ____ and the equilibrium quantity is ____.
A) $110,000; 200
B) $20,000; 100
C) $100; 20,000
D) $2,000; 1,000
Correct Answer:
Verified
Correct Answer:
Verified
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