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The Demand for Commodity X Is Represented by the Equation

Question 266

Multiple Choice

The demand for commodity X is represented by the equation P = 10 - 0.2Q and supply by the equation P = 2 + 0.2Q.Refer to the above information.The equilibrium price for X is:


A) $2
B) $4
C) $6
D) $7

Correct Answer:

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