The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5P.If this economy is open to trade, and the world price of a car is $6,000, the domestic quantity demanded will be ________ and quantity supplied will be ________.
A) 14,000; 8,000
B) 12,000; 8,000
C) 12,000; 10,000
D) 8,000; 14,000
Correct Answer:
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