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Refer to Table 4-5. The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick. What are the equilibrium price and quantity (in thousands) for Chef Ernie's sushi?

Table 4-5

Demand Supply
P = 80 - QD P = 50 + 1/2 QS
QD = 80 - P QS = 2P - 100


A) $40 and 50 thousand

B) $60 and 20 thousand

C) $80 and 80 thousand

D) $50 and 100 thousand

Microeconomics, Economics

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