Multiple Choice
(Advanced analysis) The demand for commodity X is represented by the equation P = 10 - 0.2Q and supply by the equation P = 2 + 0.2Q. If demand changes from P = 10 - .2Q to P = 7 - .3Q, the new equilibrium quantity is
A) 10.
B) 20.
C) 15.
D) 30.
Correct Answer:
Verified
Correct Answer:
Verified
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