Market demand is given as Qd = 80 – 2P. Market supply is given as Qs = 2P. In a perfectly competitive equilibrium, what will be price and quantity traded in the market? A. price will be $20 and quantity will be 10 B. price will be $20 and quantity will be 40 C. price will be $40 and quantity will be 20 D. price will be $10 and quantity will be 20
Market demand is given as Qd = 80 – 2P. Market supply is given as Qs = 2P. In a perfectly competitive equilibrium, what will be price and quantity traded in the market? A. price will be $20 and quantity will be 10 B. price will be $20 and quantity will be 40 C. price will be $40 and quantity will be 20 D. price will be $10 and quantity will be 20
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 10SQP
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Market
- A. price will be $20 and quantity will be 10
- B. price will be $20 and quantity will be 40
- C. price will be $40 and quantity will be 20
- D. price will be $10 and quantity will be 20
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