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The Demand Equation for a Certain Product Is P =

Question 60

Multiple Choice

The demand equation for a certain product is p = 25 - 0.005q,where p is the price per unit (in dollars) for q units.If its supply equation is p = 1 + 0.03q,then the consumers' surplus when market equilibrium is established is


A) $1176.49
B) $1250.87
C) $1500.
D) $1675.30
E) $1800.

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