You observe that the demand for pomelo is given byQd = 5,000-10Pand the supply of pomelo is given byQs = 1,000 + 30P. What is the market equilibrium for pomelo?

A. P = 500, Q = 16,000
B. P = 200, Q = 3,000
C. P = 100, Q = 4,000
D. P = 50, Q = 2,500

Ans: C. P = 100, Q = 4,000

Economics

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A) downward; increase B) upward; increase C) upward; decrease D) downward; decrease

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