A Market Can Be Described by the Equations Q_d =

question 87

Multiple Choice

A market can be described by the equations Q_d = 50 - 3P and Q_s = 2P. What are the equilibrium price and quantity in this market?

• A) The equilibrium price is $20 and the equilibrium quantity is 10 units.
• B) The equilibrium price is $50 and the equilibrium quantity is 100 units.
• C) The equilibrium price is $30 and the equilibrium quantity is 10 units.
• D) The equilibrium price is $10 and the equilibrium quantity is 20 units.

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Definitions:

Trichinosis

Infection caused by the roundworm Trichinella spiralis.

Nematocysts

Specialized cells in the tentacles of cnidarians such as jellyfish, used for capturing prey and defense through the release of toxins.

Cnidarian

Invertebrates existing as either a polyp or medusa, with two tissue layers and radial symmetry.

Muscle and Nerve Fibers

Specialized cells within the body, muscle fibers responsible for contraction and motion, and nerve fibers responsible for transmitting electrical impulses.