Question: The equations below define the demand and supply curves for pocket calendars in a regional market: Demand: Price = 30 -

 

The equations below define the demand and supply curves for pocket calendars in a regional market: 

Demand:         Price = 30 - 4 Qd

Supply:            Price = 5 + Qs

If the market is free to adjust to its equilibrium, what is the price in equilibrium?

Group of answer choices

$11

$15

$12

$10

 

none of the above

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