Suppose demand is given by $\mathrm { Q } ^ { \mathrm { d } } = 400 - 15 \mathrm { P } + \mathrm { I }$, where $\mathrm { Q } ^ { \mathrm { d } }$ is quantity demanded, $\mathrm { P }$ is price and $\mathrm { I }$ is income. Supply is given by $Q ^ { s } = 5 P$, where $Q ^ { s }$ is quantity supplied. When $I = 200$, equilibrium price is
A) 15
B) 20
C) 25
D) 30

Question

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The Answer of Suppose demand is given by $\mathrm { Q } ^ { \mathrm { d } } = 400 - 15 \mathrm { P } + \mathrm { I }$, where $\mathrm { Q } ^ { \mathrm { d } }$ is quantity demanded, $\mathrm { P }$ is price and $\mathrm { I }$ is income. Supply is given by $Q ^ { s } = 5 P$, where $Q ^ { s }$ is quantity supplied. When $I = 200$, equilibrium price is
A) 15
B) 20
C) 25
D) 30

Suppose Demand Is Given By Qd=400−15P+I\mathrm { Q } ^ { \mathrm { d } } = 400 - 15 \mathrm { P } + \mathrm { I }Qd=400−15P+I

Suppose Demand Is Given By $\mathrm { Q } ^ { \mathrm { d } } = 400 - 15 \mathrm { P } + \mathrm { I }$