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(Advanced Analysis) the Demand for Commodity X Is Represented by the Equation

Question 191

Multiple Choice

(Advanced analysis) The demand for commodity X is represented by the equation P = 100 - 2Q and supply by the equation P = 10 + 4Q. The equilibrium price is


A) $50.
B) $70.
C) $80.
D) $130.

Correct Answer:

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