Topic: Equilibrium Diculty: 0% Correct Responses: 0 Discrimination Index: 0Correct Answer: A16.35..

Topic: Equilibrium Diculty: 0% Correct Responses: 0 Discrimination Index: 0Correct Answer: A16.35 Schrecklich and Lamerde are two obscure modernist painters, who are no longer alive, butwhose paintings are still enjoyed by persons of dubious taste. The demand function for Schrecklichsis 200 ?? 4PS ?? 2PL and the demand function for Lamerdes is 200 ?? 3PL ?? PS; where PS and PL arerespectively the price of Schrecklichs and Lamerdes. If the world supply of Schrecklichs is 110 andthe world supply of Lamerdes is 110, then the equilibrium price of Schrecklichs is:(a) 9.(b) 22.50.(c) 36.(d) 27.(e) 18.Topic