Multiple Choice
Schrecklich and Lamerde are two obscure modernist painters, who are no longer alive but whose paintings are still enjoyed by persons of dubious taste.The demand function for Schrecklichs is 200 - 4PS - 2PL and the demand function for Lamerdes is 200 - 3PL - PS, where PS and PL are respectively the price of Schrecklichs and Lamerdes.If the world supply of Schrecklichs is 110 and the world supply of Lamerdes is 110, then the equilibrium price of Schrecklichs is
A) $9.
B) $22.50.
C) $36.
D) $27.
E) $18.
Correct Answer:

Verified
Correct Answer:
Verified
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