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Market Demand Is Given as Qd = 80 - 2P

Question 53

Multiple Choice

Market demand is given as Qd = 80 - 2P.Market supply is given as Qs = 2P.In a perfectly competitive equilibrium,what will be price and quantity traded in the market?


A) price will be $20 and quantity will be 10
B) price will be $20 and quantity will be 40
C) price will be $10 and quantity will be 20
D) price will be $40 and quantity will be 20

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