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Suppose That the Demand and Supply Curves in the Market

Question 103

Multiple Choice

Suppose that the demand and supply curves in the market for apples have the following functional forms: QD = 250 - 4p and QS = 10 + p.The equilibrium quantity and price would then be


A) Q = 48,p = 58.
B) Q = 58,p = 48.
C) Q = 68,p = 98.
D) Q = 68,p = 108.
E) Q = 92,p = 48.

Correct Answer:

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