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