Solved

Consider a Market with a Demand Curve Given by Q

Question 1

Multiple Choice

Consider a market with a demand curve given by q = 120 -P and a supply curve of q = 2P.Solving for q and P yields

A) q = 10, P = 30
B) q = 20, P = 40
C) q = 80, P = 40
D) q = 50, P = 25
E) q = 30, P = 15

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