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Market Demand Is Given as Qd =150 - 3P

Question 143

Multiple Choice

Market demand is given as Qd =150 - 3P. Market supply is given as Qs = 2P. In a perfectly competitive equilibrium, what will be price and quantity traded in the market?


A) price will be $20 and quantity will be 40
B) price will be $30 and quantity will be 20
C) price will be $30 and quantity will be 60
D) price will be $40 and quantity will be 60

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