Multiple Choice
Suppose the market demand curve is given by Qᵈ = 80 - 10P, and the market supply curve is given by Qˢ = 10 + 15P. What is the equilibrium price and quantity?
A) P* = $2.60 and Q* = 54
B) P* = $3.00 and Q* = 55
C) P* = $2.80 and Q* = 52
D) P* = $2.80 and Q* = 54
Correct Answer:
Verified
Correct Answer:
Verified
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