Consider following demand and supply function for a market: D: P=200-5Q; S: P=20+4Q. The market equilibrium quantity is O Q=40 O Q=30 O Q=20 OQ-9
Consider following demand and supply function for a market: D: P=200-5Q; S: P=20+4Q. The market equilibrium quantity is O Q=40 O Q=30 O Q=20 OQ-9 D Question 9 Consider the market for wheat, which currently is in equilibrium. A new farming technology makes production cheaper. This will lead to O An increase in equilibrium price and quantity O A decrease in equilibrium price and an increase in equilibrium quantity O An increase in equilibrium price and a decrease in equilibrium quantity O A decrease in equilibrium price and quantity
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