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In a competitive market, the market demand is Qd = 160 - 3P and the market supply is Qs = 50 + 7P. At the

In a competitive market, the market demand is Qd = 160 - 3P and the market supply is Qs = 50 + 7P. At the price of $10, there will be a

surplus of 10 units.

surplus of 20 units.

shortage of 10 units.

shortage of 20 units

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