Answered: Suppose market demand and supply are…

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Suppose market demand and supply are given by Qd = 300 - 4P and QS = -50 + 3P. The equilibrium price is: $50 $4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

22. Suppose market demand and supply are given by Q^d = 300 - 4P and Q^S = -50 + 3P. The equilibrium price is:

		$50
		$40
		$35
		$60

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