The Quantity Demanded Each Month of Russo Espresso Makers Is

question 245

Multiple Choice

The quantity demanded each month of Russo Espresso Makers is 200 when the unit price is $120.00. The quantity demanded each month is 1,000 when the unit price is $80.00. The suppliers will market 850 espresso makers if the unit price is $42.00 or lower. At a unit price of $72.00, they are willing to make available 2,350 units in the market. Both the demand and supply equations are known to be linear. Find the equilibrium quantity and the equilibrium price.

• A) equilibrium quantity 1,500 units; equilibrium price $55.00
• B) equilibrium quantity 1,390 units; equilibrium price $70.00
• C) equilibrium quantity 1,390 units; equilibrium price $55.00
• D) equilibrium quantity 1,500 units; equilibrium price $70.00

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