Market demand is given as Qd = 80 - P. Market supply is given as Qs = 3P. What would result if the market price were $10? Question 18 options: a shortage of 20 a surplus of 20 a surplus of 40 a shortage of 40

Market demand is given as Qd = 80 - P. Market supply is given as Qs = 3P. What would result if the market price were $10? Question 18 options: a shortage of 20 a surplus of 20 a surplus of 40 a shortage of 40

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter4: Markets In Action

Section: Chapter Questions

Problem 11SQ

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Question

Market demand is given as Qd = 80 - P. Market supply is given as Qs = 3P. What would result if the market price were $10?

Question 18 options:

	a shortage of 20
	a surplus of 20
	a surplus of 40
	a shortage of 40

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