Suppose that the demand curve for a good is given by Q_D = 80 - P_D,while the supply curve for the good is given by Q_S = 3P_S.If the price in this market is currently equal to 10,then the quantity demanded is ______ and the quantity supplied is _______. A) 30;70 B) 30;80 C) 80;30 D) 80;3 E) 70;30

Question

Quizplus · Accepted Answer

The quantity demanded is Q_D = 80 - 10 = 70, and the quantity supplied is Q_S = 3 * 10 = 30.

Suppose That the Demand Curve for a Good Is Given