Assume that the demand for penicillin as reflected in the figure below is P = 40 - .1Q, while supply is P = 10 + .9Q.Market equilibrium would be given by:
A)P = 37, Q = 30
B)P = 30, Q = 37
C)P = 40, Q = 36
D)P = 370, Q = 30
E)None of the above

Question

Assume that the demand for penicillin as reflected in the figure below is P = 40 - .1Q, while supply is P = 10 + .9Q.Market equilibrium would be given by: 
A)P = 37, Q = 30 
B)P = 30, Q = 37 
C)P = 40, Q = 36 
D)P = 370, Q = 30 
E)None of the above

Quizplus · Accepted Answer

The Answer of Assume that the demand for penicillin as reflected in the figure below is P = 40 - .1Q, while supply is P = 10 + .9Q.Market equilibrium would be given by: 
A)P = 37, Q = 30 
B)P = 30, Q = 37 
C)P = 40, Q = 36 
D)P = 370, Q = 30 
E)None of the above

Assume That the Demand for Penicillin as Reflected in the Figure