Suppose Quantity Demanded Is Given by Qᵈ = 100 -

Multiple Choice

Suppose quantity demanded is given by Qᵈ = 100 - P, and quantity supplied is given by Qˢ = 20 + 3P. In this case, equilibrium price, P*, and equilibrium quantity, Q*, are as follows:

A) P*= 80, Q*= 20
B) P*= 10, Q*= 90
C) P*= 40, Q*= 140
D) P*= 20, Q*= 80