Multiple Choice
Demand is given by QD = 620 - 10·P and supply is given by QS = 100 + 3·P.What is the price and quantity when the market is in equilibrium?
A) The price will be $30 and the quantity will be 132 units.
B) The price will be $11 and the quantity will be 122 units.
C) The price will be $40 and the quantity will be 220 units.
D) The price will be $35 and the quantity will be 137 units
E) The price will be $10 and the quantity will be 420 units.
Correct Answer:
Verified
Correct Answer:
Verified
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