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Use the following demand and supply functions to answer the following. Demand:Qd=50-4P Supply: Qs=20+2P If the price is $2, there is a a.surplus of 10

Use the following demand and supply functions to answer the following.

Demand:Qd=50-4P

Supply: Qs=20+2P

If the price is $2, there is a

a.surplus of 10 units.

b.shortage of 10 units.

c.surplus of 30 units.

d.shortage of 18 units.

e.none of the above

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