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Suppose the demand is given by P=20-Q and the supply is given by P=4+Q. What are the equilibrium price and equilibrium quantity? (not requesting an
Suppose the demand is given by P=20-Q and the supply is given by P=4+Q. What are the equilibrium price and equilibrium quantity? (not requesting an answer to this question but providing for background to Q42) A) $12; 8 B) $14; 6 C) $15; 5 D) $13; 7 42. Continue with question 40: What is the value of the consumer surplus? A) $32 B) $36 C) $28 D) $24
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