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Q. |
The market demand curve for a perfectly competitive industry is QD = 12 - 2P. The market supply curve is QS = 3 + P. The market will be in equilibrium if: |
A. | P = 6 and Q = |
B. | P = 3 and Q = 6 |
C. | P = 4 and Q = 4 |
D. | P = 5 and Q = 2 |
Answer» B. P = 3 and Q = 6 |
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