The following are the equations for the supply and demand curves in the market for weezils:
Demand:
Qd= 20?2P
Supply:
Qs= 5 + 3P
where Qdis the quantity demanded, Qsis the quantity supplied, and P is the price per weezil in dollars.
Refer to Exhibit 4-1. According to the data given, when the market is in Equilibrium, how many weezils are sold?
A. 3
B. 5
C. 11
D. 14
Answer: D
Economics
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