Given the modified supply equation Qs = 3P - 5 and demand equation Qd = 15 - 2P, what is the equilibrium price and quantity?

• A. Price = \$3, Quantity = 9
• B. Price = \$5, Quantity = 10
• C. Price = \$4, Quantity = 7
• D. Price = \$6, Quantity = 8

Answer: (C)