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Suppose That the Demand Curve for a Good Is Given

Question 38

Multiple Choice

Suppose that the demand curve for a good is given by QD = 60 - 0.5PD,while the supply curve for the good is given by QS = 20 + 0.5PS.The equilibrium quantity is ______ and the equilibrium price is _____.


A) 20;60
B) 60;20
C) 60;60
D) 40;40
E) 45;30

Correct Answer:

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