Suppose That the Supply of Apples Can Be Represented by the Following

question 59

Multiple Choice

Suppose that the supply of apples can be represented by the following equation: Q^s = 2P + 500. Further suppose that the demand for apples can be represented by the following equation: Q^d = 900 - 3P. Which of the following is the equilibrium price in the market for apples?

• A) 10
• B) 50
• C) 80
• D) 100

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Definitions:

Pineal Body

A small endocrine gland in the brain that produces melatonin, a hormone that regulates sleep patterns.

Melatonin

A hormone produced by the pineal gland in the brain, responsible for regulating sleep-wake cycles.

Biological Clock

An internal mechanism in living organisms that controls the timing of various biological functions, such as sleep-wake cycles, reproductive cycles, and metabolism.

Atrial Natriuretic Peptide

A hormone produced by the heart that helps regulate blood pressure and fluid balance.