Solve the problem.Let the supply and demand functions for raspberry-flavored licorice be given by p = S(q) = q and p = D(q) = 70 - q ,where p is the price in dollars and q is the number of batches. Graph these functions on the same axes (graph the supply function as a dashed line and the demand function as a solid line). Also, find the equilibrium quantity and the equilibrium price.

A.

Equilibrium quantity: 28
Equilibrium price: $35.00
B.

Equilibrium quantity: 35.00
Equilibrium price: $28
C.

Equilibrium quantity: 43.75
Equilibrium price: $35
D.

Equilibrium quantity: 35
Equilibrium price: $43.75


Answer: A

Mathematics

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