Consider a market for fish whose market demand and market supply for fish is specified as Qd = 300 ? 2.5P and Qs = ? 20 + 1.5P, respectively. The equilibrium price and quantity is:
A. $100 and 80, respectively.
B. $80 and 100, respectively.
C. $100 and 130, respectively.
D. $40 and 200, respectively.
Answer: B
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