Multiple Choice
Suppose there are 100 consumers in the computer speaker market, each with an identical demand curve given by Qi = 10 - 0.1P, where P is the price per pair of speakers and Qi measures the quantity demanded of computer speakers by each person. The market supply for computer speakers is given by QS = 20P - 200. The equilibrium price in the computer speaker market is $____.
A) 40
B) 100
C) 300
D) 600
Correct Answer:
Verified
Correct Answer:
Verified
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