Use the Figure Below to Answer the Following Question(s)

question 298

Multiple Choice

Use the figure below to answer the following question(s) .
Figure 3-9
-In Figure 3-9, if D and S represent the demand and supply for gasoline, what is the equilibrium price and quantity?

• A) price, $1; quantity, 20
• B) price, $2; quantity, 30
• C) price, $3; quantity, 40
• D) price, $4; quantity, 50

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Definitions:

Built-In Mechanism

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