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Market Demand Is Given as Qd = 200 - 3P

Question 98

Multiple Choice

Market demand is given as Qd = 200 - 3P. Market supply is given as Qs = 2P + 100. What would result if the market price were $30?

A) a shortage of 110
B) a surplus of 110
C) a surplus of 50
D) a shortage of 50

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