ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Suppose a perfectly competitive market has a market demand function given by:
QD(P) = 350 – 6P
If the market supply function is given by:
Qs(P) = 30+ 2P
What will be the equilibrium market price?
$40
$20
$30
$52.3
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Transcribed Image Text:Suppose a perfectly competitive market has a market demand function given by: QD(P) = 350 – 6P If the market supply function is given by: Qs(P) = 30+ 2P What will be the equilibrium market price? $40 $20 $30 $52.3
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