Multiple Choice
The market demand curve for a perfectly competitive industry is QD = 12 - 2P. The market supply curve is QS = 3 + P. The market will be in equilibrium if
A) P = 6 and Q = 9.
B) P = 5 and Q = 2.
C) P = 4 and Q = 4.
D) P = 3 and Q = 6.
Correct Answer:
Verified
Correct Answer:
Verified
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