Multiple Choice
Retailers will buy 45 cordless phones from a wholesaler if the price is $10 each but only 20 if the price is $60. The wholesaler will supply 35 phones at $30 each and 42 at $42 each. Assuming the supply and demand functions are linear, find the market equilibrium point .
A) market equilibrium point:
B) market equilibrium point:
C) market equilibrium point:
D) market equilibrium point:
E) market equilibrium point:
Correct Answer:

Verified
Correct Answer:
Verified
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