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Use the Following Demand and Supply Functions: Demand: Supply

Question 7

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Use the following demand and supply functions: Demand: Use the following demand and supply functions: Demand: Supply: Let supply remain constant; an increase in income causes consumers to be willing and able to buy 220 more units at each price than they were previously.The new equilibrium price and quantity are A) P = $10 and Q = 520. B) P = $12 and Q = 400. C) P = $10 and Q = 80. D) P = $15 and Q = 600. Supply: Use the following demand and supply functions: Demand: Supply: Let supply remain constant; an increase in income causes consumers to be willing and able to buy 220 more units at each price than they were previously.The new equilibrium price and quantity are A) P = $10 and Q = 520. B) P = $12 and Q = 400. C) P = $10 and Q = 80. D) P = $15 and Q = 600. Let supply remain constant; an increase in income causes consumers to be willing and able to buy 220 more units at each price than they were previously.The new equilibrium price and quantity are


A) P = $10 and Q = 520.
B) P = $12 and Q = 400.
C) P = $10 and Q = 80.
D) P = $15 and Q = 600.

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