Suppose the demand for cigarettes was P=100-5Q and the supply for cigarettes was P=5Q. The market equilibrium price in this market would be
A. $20
B. $50
C. $100
D. $5
Answer: B. $50
Suppose the demand for cigarettes was P=100-5Q and the supply for cigarettes was P=5Q. The market equilibrium price in this market would be
A. $20
B. $50
C. $100
D. $5
Answer: B. $50