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Market Demand Is Given as Qd = 100 - 2P

Question 111

Multiple Choice

Market demand is given as Qd = 100 - 2P. Market supply is given as Qs = P + 10. What would result if the market price were $20?

A) a shortage of 30
B) a surplus of 60
C) a surplus of 30
D) a shortage of 60

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