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Suppose the Market Demand for TV Remotes Is Given by the Equation

Question 130

Essay

Suppose the market demand for TV remotes is given by the equation Qd = 100 - 2P, where P is the price and Qd represents the number of TV remotes.If the market price of TV remotes is $40, then the quantity demanded would equal ________ and the value of consumer surplus will be _.
A.20; $100
B.100; $20
C.40; $200
D.2; $40

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