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Consider a Market Characterized by the Following Demand and Supply

Question 22

Multiple Choice

Consider a market characterized by the following demand and supply conditions: PX = 15 − 2QX and PX = 3 + 2QX.The equilibrium price and quantity are,respectively:


A) $3 and 9 units.
B) $9 and 3 units.
C) $12 and 4 units.
D) $4 and 12 units.

Correct Answer:

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