Solve the Problem. -Assume That the Price Per Unit D of a Certain

question 15

Multiple Choice

Solve the problem.
-Assume that the price per unit d of a certain item to the consumer is given by the equation d = 35 - .10x, where x is the number of units in demand. The price per unit from the supplier is given by the equation s = .2x + 20,
Where x is the number of units supplied. Find the equilibrium price and the equilibrium quantity.

• A) equilibrium price: $35 per unit; equilibrium quantity: 50 units
• B) equilibrium price: $50 per unit; equilibrium quantity: 30 units
• C) equilibrium price: $30 per unit; equilibrium quantity: 50 units
• D) equilibrium price: $20 per unit; equilibrium quantity: 50 units

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Definitions:

John Marshall

An influential Chief Justice of the United States (1801-1835) known for establishing the principles of U.S. constitutional law and judicial review.

Federal Government

The national government of a federal country, which shares sovereignty with the constituent states or provinces.

Indian Removal

The 19th-century policy of forcibly relocating Native American nations from their ancestral homelands in the southeastern U.S. to territories west of the Mississippi River.

Trans-Mississippi West

The region west of the Mississippi River during the 19th century, characterized by its settlement, development, and diverse populations, including Indigenous peoples, miners, and ranchers.