Suppose the Price P of Bolts Is Related to the Quantity

question 77

Multiple Choice

Suppose the price p of bolts is related to the quantity q that is demanded by: $p = 500 - 5 q ^ { 2 }$ where q is measured in hundreds of bolts. Suppose the supply function for bolts is given by $p = 5 q ^ { 2 }$ where q is the number of bolts (in hundreds) that are supplied at price p. Find the equilibrium supply.

• A) About 636 bolts
• B) About 778 bolts
• C) About 707 bolts
• D) About 7 bolts

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