Given the equations, Q_d_h = 500 - 25P_h and Q_s_h= - 250 + 50P_h, what is the equilibrium price for Alaskan halibut? A) $5.00 B) $10.00 C) $15.00 D) $20.00 E) $25.00

Question

Quizplus · Accepted Answer

To find the equilibrium price for Alaskan halibut, we need to set the quantity demanded equal to the quantity supplied, and solve for the price. Q_d_h = Q_s_h 500 - 25P_h = -250 + 50P_h 750 = 75P_h P_h = 10 Therefore, the equilibrium price for Alaskan halibut is $10.00, which corresponds to answer choice B.

Given the Equations, Qdh = 500 - 25Ph and Qsh=

Given the Equations, Q_d_h = 500 - 25P_h and Q_s_h=