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

Verified
Correct Answer:
Verified
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