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Problem on equilibrium price and quantity in the market

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Reference no: EM131106033

The U.S. Department of Agriculture has estimated (using statistical analysis) that the market for corn is characterized by a market demand given by QD = 200 - P, while the market supply is QS = 50 + 14 P.

Given this information, the equilibrium market price and quantity traded are:

  • P = $15, Q = 185.
  • P = $8, Q = 192.
  • P = $10, Q = 190.
  • None of the above.

Reference no: EM131106033

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