The following are the demand and supply equations in a perfectly competitive market:
P = 12 + 0.3 Qs
P = 40 - 0.4 Qd
The equilibrium market price would be:
| A. | 24 |
| B. | 10 |
| C. | 40 |
| D. | 20 |
Answer : A Explanation : |
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Option: A Explanation : Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. |
