Suppose the demand function (D) for golf clubs is: Q = 240 – 0.50P, %3D where P is the price paid by consumers in dollars per club and Q is the quantity demanded in thousands. Suppose the supply curve...

Extracted text: Suppose the demand function (D) for golf clubs is: Q = 240 – 0.50P, %3D where P is the price paid by consumers in dollars per club and Q is the quantity demanded in thousands. Suppose the supply curve (S) for golf clubs is estimated to be: Q = 1.00P. Calculate the equilibrium price for golf clubs and the equilibrium quantity sold. The equilibrium price is $ 160 per club (Enter your response as an integer.), and the equilibrium quantity is 160 thousand clubs (Enter your response as an integer.) Suppose instead that golf club producers agree to charge a price of $180 per club. This would result in a of thousand clubs (Enter your response as an integer.)