Consider a Market for Fish Whose Market Demand and Market

question 127

Multiple Choice

Consider a market for fish whose market demand and market supply for fish is specified as Qd = 300 − 2.5P and Qs = − 20 + 1.5P, respectively. The equilibrium price and quantity is:

• A) $40 and 200, respectively.
• B) $80 and 100, respectively.
• C) $100 and 80, respectively.
• D) $100 and 130, respectively.

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Definitions:

Sieve-Tube Members

Specialized cells in the phloem of higher plants that facilitate the transport of sugars and other nutrients from the leaves to the rest of the plant.

Parenchyma

A type of tissue in plants composed of living cells, often involved in photosynthesis, storage, and healing.

Xylem Cells

Plant cells that form part of the xylem tissue, responsible for the transport of water and dissolved minerals from the roots to the rest of the plant.

Water Transport

The movement of water and nutrients through a plant, from the roots to the leaves, via xylem and phloem.