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Scenario 2.1: The Demand for Books Is: Qd = 120 - P

Question 34

Multiple Choice

Scenario 2.1:
The demand for books is: Qd = 120 - P
The supply of books is: Qs = 5P
-Refer to Scenario 2.1. If P = $25, which of the following is true?


A) Quantity supplied is greater than quantity demanded.
B) Quantity supplied is less than quantity demanded.
C) Quantity supplied equals quantity demanded.
D) There is a shortage.

Correct Answer:

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