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The demand equation for a good is Qd = 2500 - 10P, and the supply equation is Qs = 500 + 20P. If the price
The demand equation for a good is Qd = 2500 - 10P, and the supply equation is Qs = 500 + 20P. If the price of the good (P) is $50, there will be a _____________ of _____________ units. Group of answer choices shortage; 500 surplus; 500 surplus; 2000 shortage; 2000
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Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
8th edition
978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123
