Use the Following Equations for the Following Two Questions

question 11

Multiple Choice

Use the following equations for the following two questions
Demand: P=120-Q
Marginal private cost: P=30+1/2Q
Marginal social cost: MC_S=30+Q
-What is the private equilibrium quantity and price?

• A)Q=60, P=60
• B)Q=45, P=75
• C)Q=12, P=108
• D)Q=75, P=45

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