Consider the demand and supply schedules above for a limited number of hotels in the downtown business district area of a particular city.
-Refer to the above information to answer this question.If two of the hotels have been purchased,what are the new equilibrium values of price and quantity?
A)$60 million and 4.
B)$60 million and 6.
C)$70 million and 6.
D)$70 million and 4.
E)$80 million and 6.

Question

Consider the demand and supply schedules above for a limited number of hotels in the downtown business district area of a particular city.
-Refer to the above information to answer this question.If two of the hotels have been purchased,what are the new equilibrium values of price and quantity?
A)$60 million and 4. 
B)$60 million and 6. 
C)$70 million and 6. 
D)$70 million and 4. 
E)$80 million and 6.

Quizplus · Accepted Answer

The Answer of  Consider the demand and supply schedules above for a limited number of hotels in the downtown business district area of a particular city.
-Refer to the above information to answer this question.If two of the hotels have been purchased,what are the new equilibrium values of price and quantity?
A)$60 million and 4. 
B)$60 million and 6. 
C)$70 million and 6. 
D)$70 million and 4. 
E)$80 million and 6.

Consider the Demand and Supply Schedules Above for a Limited