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Consider a Perfectly Competitive Market with Market Supply Qs=−2+PQ ^ { s } = - 2 + P

Question 45

Multiple Choice

Consider a perfectly competitive market with market supply Qs=−2+PQ ^ { s } = - 2 + P and market demand Qd=30−PQ ^ { d } = 30 - P . What is the equilibrium quantity in this market?


A) 12
B) 14
C) 16
D) 18

Correct Answer:

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