Multiple Choice
Suppose that the demand curve for an advanced technology product for businesses is given by P =10,000 - 4Q3 and supply is P = 2,000 + 4Q3. The equilibrium price is ____ and the equilibrium quantity is ____.
A) $6,000: 10
B) $10; 6,000
C) $70,000; 10
D) $30,000; 20
Correct Answer:
Verified
Correct Answer:
Verified
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