Question 3
The demand and supply equations for a commodity are given respectively as D = 20 - ½P and S = 8 + ¼P. Recalling that at equilibrium D=S, the equilibrium price(p) and quantity (Q) can be obtained as
Objective
Question details
- Exam body
- FUTA
- Subject
- Economics
- Year
- 2009/2010
- Question no.
- #3
- Type
- Objective
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