Suppose the Demand and Supply Curves for Units of University

Multiple Choice

Suppose the demand and supply curves for units of university credits are given by
Q^D = 5,000 - P
Q^S = -1,000 + 4P
Where Q^D is the quantity of credits demanded, Q^S is the quantity supplied, and P is the price in dollars for each unit. In this market, the equilibrium price is ____ and the equilibrium quantity is ____.

A) $3,800; 1,200
B) $3,000; 2000
C) $1,200; 3,800
D) $2,000; 3,000