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Refer to the Diagram Given Below

Question 245

Multiple Choice

Refer to the diagram given below. Refer to the diagram given below. The above diagram shows the demand for and the supply of Product X.Assume that the market for Product X is competitive.If the initial demand and supply curves are D<sub>0</sub> and S<sub>0</sub> respectively, the initial equilibrium price and quantity will be: A) 0F and 0C respectively. B) 0G and 0B respectively. C) 0F and 0A respectively. D) 0E and 0B respectively. The above diagram shows the demand for and the supply of Product X.Assume that the market for Product X is competitive.If the initial demand and supply curves are D0 and S0 respectively, the initial equilibrium price and quantity will be:


A) 0F and 0C respectively.
B) 0G and 0B respectively.
C) 0F and 0A respectively.
D) 0E and 0B respectively.

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