## Equilibrium price and quantity, Macroeconomics

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Use the following general linear demand relation: Qd = 680 - 9P + 0.006M - 4PR where M is income and PR is the price of a related good, R. If M = \$15,000 and PR = \$20 and the supply function is Qs= 30 + 3P, equilibrium price and quantity are, respectively,
A) P = \$55 and Q = 195.
P= \$6 and Q = 38.
P = \$12 and Q = 200.
P= \$50 and Q = 170.
P = \$40 and Q = 250.

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