Consider the market for roses in a small town.
The demand function is given by:
P = 20 - 0.25Q(D)
The supply function is given by:
P = 4 + 0.55Q(S)
The market equilibrium price for the roses is:
A) $15 per dozen roses.
B) $18 per dozen roses.
C) $5 per dozen roses.
D) $1 per dozen roses.
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