Multiple Choice
(Advanced analysis) The demand for commodity X is represented by the equation P = 10 - 0.2Q and supply by the equation P = 2 + 0.2Q. If demand changes from P = 10 - 0.2Q to P = 7 - 0.3Q, the new
Equilibrium price is
A) $2.
B) $4.
C) $6.
D) $7.
Correct Answer:
Verified
Correct Answer:
Verified
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