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Exhibit 4-8 -Refer to the Exhibit.Suppose the Market for Baby Formula Is

Question 137

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Exhibit 4-8
Exhibit 4-8 -Refer to the exhibit.Suppose the market for baby formula is given by the demand curve D₁, and the supply curve S₁.What is the equilibrium price and equilibrium quantity?   A)  P₁, Q₂  B)  P₃, Q₄  C)  P₄, Q₃  D)  P2, Q₁
-Refer to the exhibit.Suppose the market for baby formula is given by the demand curve D₁, and the supply curve S₁.What is the equilibrium price and equilibrium quantity?  


A)  P₁, Q₂ 
B)  P₃, Q₄ 
C)  P₄, Q₃ 
D)  P2, Q₁

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