Suppose That the Demand for Movies Is Given by Q^d

question 57

Multiple Choice

Suppose that the demand for movies is given by Q^d = 30 - 2xP_Movies and the supply is given by Q^s = 2 + 2xP_Movies.What is the equilibrium price and quantity of movies?

• A) P_Movies = $7, Q = 30
• B) P_Movies = $2, Q = 30
• C) P_Movies = $4, Q = 28
• D) P_Movies = $7, Q = 16

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