Assume That the Demand for Boats as Shown in the Figure

question 9

Multiple Choice

Assume that the demand for boats as shown in the figure below is P = $500 - 10Q, while the supply is P = $100 + 10Q.Market equilibrium would then be:

• A)P = 20, Q = 300
• B)P = 300, Q = 20
• C)P = 20, Q = 20
• D)P = 500, Q = 500
• E)None of the above.

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