If the Demand Schedule May Be Written P = 100

question 77

Multiple Choice

If the demand schedule may be written P = 100 - 4Q, and the supply schedule P = 40 + 2Q, then the market clearing price and quantity are:

• A)P = 60, Q = 10.
• B)P = 10, Q = 6.
• C)P = 40, Q = 6.
• D)P = 20, Q = 20.
• E)none of the above.

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