Suppose That King Kanuta from Demands That Each of His

question 13

Multiple Choice

Suppose that King Kanuta from demands that each of his subjects give him 3 coconuts for every coconut that they consume.The king puts all of the coconuts that he collects in a large pile and burns them.The supply of coconuts is given by S(p_s) = 100p_s, where p_s is the price received by suppliers.The demand for coconuts by the king's subjects is given by D(p_d) = 7,650 - 100p_d, where p_d is the price paid by consumers.In equilibrium, the price received by suppliers will be

• A)$153.
• B)$18.
• C)$27.
• D)$38.25.
• E)None of the above.

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