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Market Demand Is Given as Qd = 200 - 3P

Question 1

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Market demand is given as Qd = 200 - 3P.Market supply is given as Qs = 2P + 100.In a perfectly competitive equilibrium, what will price and quantity be?  


A)  Price will be $20, and quantity will be 140. 
B)  Price will be $50, and quantity will be 260. 
C)  Price will be $100, and quantity will be 300. 
D)  Price will be $140, and quantity will be 380.

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