When the Price of a Good Is $65,the Quantity Demanded

question 46

Multiple Choice

When the price of a good is $65,the quantity demanded of a good is 80 units,and the quantity supplied of the good is 40 units.For every $10 increase in the price of this good,quantity demanded falls by 10 units and quantity supplied rises by 10 units.The equilibrium price of this good is ___________and the equilibrium quantity of this good is _________ units.

• A) $55; 30
• B) $75; 50
• C) $75; 70
• D) $85; 50
• E) $85; 60