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Assume That the Demand for Boats as Shown in the Figure

Question 9

Multiple Choice

Assume that the demand for boats as shown in the figure below is P = $500 - 10Q, while the supply is P = $100 + 10Q.Market equilibrium would then be: Assume that the demand for boats as shown in the figure below is P = $500 - 10Q, while the supply is P = $100 + 10Q.Market equilibrium would then be: A) P = 20, Q = 300 B) P = 300, Q = 20 C) P = 20, Q = 20 D) P = 500, Q = 500 E) None of the above.


A) P = 20, Q = 300
B) P = 300, Q = 20
C) P = 20, Q = 20
D) P = 500, Q = 500
E) None of the above.

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