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If Demand Is Represented as Qd = 20 - 3P

Question 103

Multiple Choice

If demand is represented as Qd = 20 - 3P and supply is represented as Qs = 4 + 5P, the demand curve intersects the y axis at a price of ________ and the supply curve intersects the y axis at a price of ________


A) $20; $4
B) $17; $9
C) $3; $5
D) $24; $2

Correct Answer:

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