Given the following aggregate demand and aggregate supply schedules, determine the equilibrium level of prices and output. 
A) equilibrium output $1,000 and equilibrium price level 25
B) equilibrium output $800 and equilibrium price level 50
C) equilibrium output $200 and equilibrium price level 125
D) equilibrium output $400 and equilibrium price level 25
E) equilibrium output $600 and equilibrium price level 75
Correct Answer:
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