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Question: 1suppose the supply of a good is given by the...

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1-Suppose the supply of a good is given by the equation, P = 150 + (QS/5) and the demand for the good is given by the equation, P = 1350 – QD. What is the equilibrium quantity?

Select one:

a. 500

b. 800

c. 1000

d. 1200

2-Suppose the supply of a good is given by the equation, P = 150 + (QS/5) and the demand for the good is given by the equation, P = 1350 – QD. What is the equilibrium price?

Select one:

a. 250

b. 350

c. 450

d. 550

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