Suppose That King Kanuta Demands That Each of His Subjects

question 19

Multiple Choice

Suppose that King Kanuta demands that each of his subjects give him 2 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) = 2,666.67 - 100p_d, where p_d is the price paid by consumers.In equilibrium, the price received by suppliers will be

• A)$8.
• B)$12.
• C)$13.33.
• D)$40.
• E)None of the above.

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