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Use the Following Demand and Supply Functions: Demand: Supply

Question 14

Multiple Choice

Use the following demand and supply functions: Demand: Use the following demand and supply functions: Demand: Supply: Equilibrium price and output are A) P = $7 and Q = 480. B) P = $10 and Q = 300. C) P = $20 and Q = 150. D) P = $100 and Q = 5,300. Supply: Use the following demand and supply functions: Demand: Supply: Equilibrium price and output are A) P = $7 and Q = 480. B) P = $10 and Q = 300. C) P = $20 and Q = 150. D) P = $100 and Q = 5,300. Equilibrium price and output are


A) P = $7 and Q = 480.
B) P = $10 and Q = 300.
C) P = $20 and Q = 150.
D) P = $100 and Q = 5,300.

Correct Answer:

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