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Suppose that market demand Q, and supply functions are given by: Q=100-2P Q=50+2P The market equilibrium price and quantity are: a. P=75, Q=12.5 b. P 12.5, Q=75 c. P=25, Q=15 d. P 15, Q=25

Suppose that market demand Q, and supply functions are given by: Q=100-2P Q=50+2P The market equilibrium price and quantity are: a. P=75, Q=12.5 b. P 12.5, Q=75 c. P=25, Q=15 d. P 15, Q=25

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Suppose that market demand and supply functions are given by: d Q=100-2P Q = 50+2P S The market equilibrium price and quantity are: a. P=75, Q=12.5 b. P= 12.5, Q=75 C. P=25, Q=15 d. P= 15, Q=25 S
Transcribed Image Text:Suppose that market demand and supply functions are given by: d Q=100-2P Q = 50+2P S The market equilibrium price and quantity are: a. P=75, Q=12.5 b. P= 12.5, Q=75 C. P=25, Q=15 d. P= 15, Q=25 S
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