Multiple Choice
Solve the problem.
-Assume that the price per unit d of a certain item to the consumer is given by the equation d = 35 - .10x, where x is the number of units in demand. The price per unit from the supplier is given by the equation s = .2x + 20,
Where x is the number of units supplied. Find the equilibrium price and the equilibrium quantity.
A) equilibrium price: $35 per unit; equilibrium quantity: 50 units
B) equilibrium price: $50 per unit; equilibrium quantity: 30 units
C) equilibrium price: $30 per unit; equilibrium quantity: 50 units
D) equilibrium price: $20 per unit; equilibrium quantity: 50 units
Correct Answer:
Verified
Correct Answer:
Verified
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