A. 34
B. 32
C. 36
D. 16
Correct Answer:
Option B – 32
Explanation
Equilibrium price = quantity demanded = quantity supplied
Equilibrium price = Qd = 40-2P = 6P+24 = Qs
40 – 2p + 2p = 6p+ 24 + 2p
40 = 6p + 26
40 = 32p
A. 34
B. 32
C. 36
D. 16
Correct Answer:
Option B – 32
Explanation
Equilibrium price = quantity demanded = quantity supplied
Equilibrium price = Qd = 40-2P = 6P+24 = Qs
40 – 2p + 2p = 6p+ 24 + 2p
40 = 6p + 26
40 = 32p
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