Answered: Market demand is given as Qd = 200 – P.…

Market demand is given as Qd = 200 – P. The market supply is given as Qs = 4P. If at the current market price, the shortage equals 50, find the current price. a.) $40 b.) $50 c.) $150 d.) 30

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter3: Market Demand And Supply

Section: Chapter Questions

Problem 13SQ

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Question

Market demand is given as Qd = 200 – P. The market supply is given as Qs = 4P. If at the current market price, the shortage equals 50, find the current price.

a.) $40 b.) $50 c.) $150 d.) 30

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