Let PD=100-1/2QD be the demand curve and PS= 20+1/2QS be the supply curve.Which of the following is the equilibrium price?
A) P=80
B) P=100
C) P=60
D) P=120
Correct Answer:
Verified
Q6: If supply is P= 20+1/2QS and P
Q7: If an increase in the price of
Q8: If gasoline falls from $4 per gallon
Q9: The maximum a person is willing to
Q10: Which of the following is not an
Q11: Lynn owns a small ballet supply store.He
Q13: The formula for the slope of a
Q14: If an increase in income leads to
Q15: The basic assumptions for preferences used in
Q16: An indifference curve displays
A)a set of quantities
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents