Given the equations Q_d_h = 500 - 25P_h and Q_s_h= - 250 + 50 P_h, what is the equilibrium quantity demanded and quantity supplied for fresh Alaskan halibut? A) 375 B) 250 C) 125 D) 500 E) 425

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Quizplus · Accepted Answer

The equilibrium quantity demanded and supplied can be found by setting Q_d_h equal to Q_s_h and solving for the value of P. 500 - 25P_h = -250 + 50 P_h 750 = 75 P_h P = 10 Now that we have found the value of P, we can substitute it back into either the demand or supply equation to find the equilibrium quantity. Using the demand equation: Q_d_h = 500 - 25(10) Q_d_h = 250 Therefore, the equilibrium quantity is 250 units.

Given the Equations Qdh = 500 - 25Ph and Qsh=

Given the Equations Q_d_h = 500 - 25P_h and Q_s_h=