The demand function is Qd = 180 - 3P and the supply function is Qs = 30 + 4P. Solve for the equilibrium and illustrate it. Which of the following options correctly represents the equilibrium price and quantity?
A) Qd = 180 - 3P; Qs = 30 + 4P
B) Qd = 180 - 3P; Qs = 30 + 4P; P is Price
C) Qd = 180 - 3P; Qs = 30 + 4P; P is Price; Solve for the equilibrium and illustrate it
D) Qd = 180 - 3P; Qs = 30 + 4P; P is Price; Solve for the equilibrium and illustrate it; Which of the following options correctly represents the equilibrium price and quantity?
