Use the Following General Linear Demand Relation $Q _ { d } = 680 - 9 P + 0.006 M - 4 P _ { R }$

question 41

Multiple Choice

Use the following general linear demand relation: $Q _ { d } = 680 - 9 P + 0.006 M - 4 P _ { R }$ where M is income and $P _ { R }$ is the price of a related good,R.If M = $15,000 and $P _ { R }$ = $20 and the supply function is $Q _ { 5 } = 30 + 3 p$ ,equilibrium price and quantity are,respectively,

• A)P = $55 and Q = 195.
• B)P = $6 and Q = 38.
• C)P = $12 and Q = 200.
• D)P = $50 and Q = 170.
• E)P = $40 and Q = 250.

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