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Use the Following General Linear Demand Relation: Where P

Question 9

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Use the following general linear demand relation: Use the following general linear demand relation: where P is the price of good X,M is income,and is the price of a related good,R.Income is $100,000,the price of the related good is $20,and the supply function is Q<sub>s</sub> = 150 + 5P.What is the equilibrium price? A) $30 B) $25 C) $40 D) $35 E) $50 where P is the price of good X,M is income,and Use the following general linear demand relation: where P is the price of good X,M is income,and is the price of a related good,R.Income is $100,000,the price of the related good is $20,and the supply function is Q<sub>s</sub> = 150 + 5P.What is the equilibrium price? A) $30 B) $25 C) $40 D) $35 E) $50 is the price of a related good,R.Income is $100,000,the price of the related good is $20,and the supply function is Qs = 150 + 5P.What is the equilibrium price?


A) $30
B) $25
C) $40
D) $35
E) $50

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