Suppose your economist tells you the free-market demand for X is given by: P = 80 -
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Question:
Suppose your economist tells you the "free-market" demand for X is given by: P = 80 - 2X; and the "free-market" supply of X is given by P = 20 + 4X. Ceteris paribus, the equilibrium quantity exchanged in this market is _____, and producer surplus is _____.
a, 60,100
b, 60,200
c, 10,100
d, 10,200
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