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| Q. |
Given the supply function qS = 12p – 200 and its inverse function p = 1/12 qS + 50/3, p in the inverse function which is interpreted as the minimum price that sellers are willing to accept for the quantity qS is called |
| A. | supply price |
| B. | demand price |
| C. | equilibrium price |
| D. | reserved price |
| Answer» A. supply price | |
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