Multiple Choice
The demand curve is P = 700 - 20QD. The supply curve is P = 300 + 20QS. At market equilibrium, the equilibrium quantity is ________ and the equilibrium price is ________.
A) 10; 500
B) 500; 10
C) 0.10; 20
D) 20; 0.10
E) 400; 40
Correct Answer:
Verified
Correct Answer:
Verified
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