Multiple Choice
Suppose that the supply of apples can be represented by the following equation: Qs = 2P + 500. Further suppose that the demand for apples can be represented by the following equation: Qd = 900 - 3P. Which of the following is the equilibrium price in the market for apples?
A) 10
B) 50
C) 80
D) 100
Correct Answer:
Verified
Correct Answer:
Verified
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