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When P = $65,the Quantity Demanded of a Good Is

Question 116

Multiple Choice

When P = $65,the quantity demanded of a good is 80 units,and the quantity supplied of the good is 40 units.For every $10 increase in the price of this good,quantity demanded falls by 10 units and quantity supplied rises by 10 units.The equilibrium price of this good is ___________and the equilibrium quantity of this good is _________ units.


A) $55;30
B) $75;50
C) $75;70
D) $85;50
E) $85;60

Correct Answer:

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