Solve the Problem. -Suppose That the Quantity Supplied S and Quantity Demanded D

question 219

Multiple Choice

Solve the problem.
-Suppose that the quantity supplied S and quantity demanded D of baseball caps at a major league game are given by the functions S(p) = 5,000 - 100p and D(p) = 150p, where p is the price. Find the equilibrium price for
Caps at the game. Then find the equilibrium quantity.

• A) $20, $3,000
• B) $33, $1,700
• C) $50, $0
• D) $50, $3,000