If the perfectly competitive market demand for gym shoes is given by QD = 100 - P and the market supply is given by QS = 10 + 2P,then the equilibrium price and quantity will be:
A) P = 50 and Q = 50.
B) P = 40 and Q = 90.
C) P = 40 and Q = 60.
D) P = 30 and Q = 70.
E) P = 25 and Q = 75.
Correct Answer:
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