The equations below define the demand and supply curves for pocket calendars in a regional market: Demand:
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Question:
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
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: