Multiple Choice
The market demand curve for a perfectly competitive industry is QD = 20 - 2P. The market supply curve is QS = 10 + 3P. The market will be in equilibrium if
A) P = 2 and Q = 16.
B) P = 4 and Q = 21.
C) P = 5 and Q = 10.
D) P = 5 and Q = 20.
Correct Answer:
Verified
Correct Answer:
Verified
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