Demand Is Given by Q_D = 620 - 10·P and Supply

question 21

Multiple Choice

Demand is given by Q_D = 620 - 10·P and supply is given by Q_S = 100 + 3·P.What is the price and quantity when the market is in equilibrium?

• A) The price will be $30 and the quantity will be 132 units.
• B) The price will be $11 and the quantity will be 122 units.
• C) The price will be $40 and the quantity will be 220 units.
• D) The price will be $35 and the quantity will be 137 units
• E) The price will be $10 and the quantity will be 420 units.

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Definitions:

Genitalia

The external and internal organs of reproduction in both males and females.

Differentiated

Having developed specialized cells and tissues to perform distinct functions within an organism.

Frontal Lobes

The front part of the brain associated with complex cognitive functions including behavior, learning, personality, and voluntary movement.

Developed

The state or process of being brought into a more advanced or effective condition.