In Problem 6, the Demand Function for Schrecklichs Is 200

question 5

Multiple Choice

In Problem 6, the demand function for Schrecklichs is 200 - 4P_S - 2P_L and the demand function for LaMerdes is 200 - 3P_L - P_S, where P_S and P_L are respectively the price of Schrecklichs and LaMerdes. If the world supply of Schrecklichs is 140 and the world supply of LaMerdes is 120, then the equilibrium price of Schrecklichs is

• A) $2.
• B) $28.
• C) $26.
• D) $15.
• E) $4.

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