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Answer the Question on the Basis of the Following Data

Question 50

Multiple Choice

Answer the question on the basis of the following data for the hypothetical nations of Alpha and Beta.Qs is domestic quantity supplied and Qd is domestic quantity demanded.  Domestic Market For Steel, Alpha Qs6040302010P$54321Qd1020304050\begin{array}{c}\underline{\text { Domestic Market For Steel, Alpha }}\\\begin{array}{c}\underline{Q_{s}}\\ 60\\40\\30\\20\\10 \end{array}\begin{array}{c}\underline{P}\\\$ 5 \\4 \\3 \\2 \\1 \end{array}\begin{array}{l}\underline{Q_{d}} \\10 \\20 \\30 \\40 \\50 \end{array}\end{array}

 Domestic Market For Steel, Beta Qs8070605040P$54321Qd2030405060\begin{array}{c}\underline{\text { Domestic Market For Steel, Beta }}\\\begin{array}{c}\underline{Q_{s}}\\ 80 \\70 \\60 \\50 \\40\end{array}\begin{array}{c}\underline{P}\\\$ 5 \\4 \\3 \\2 \\1 \end{array}\begin{array}{l}\underline{Q_{d}} \\20 \\30 \\40 \\50 \\60 \end{array}\end{array}

Refer to the given data.The domestic equilibrium prices of steel in Alpha and Beta are:


A) $5 and $4,respectively.
B) $2 and $4,respectively.
C) $3 and $2,respectively.
D) $1 and $2,respectively.

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