The figure below shows the demand (D) and supply (S) curves of corn syrups. Figure 35.3
In Figure 35.3, what are the equilibrium price and quantity in the absence of trade?
A) $8, 50 gallons
B) $12, 35 gallons
C) $8, 35 gallons
D) $4, 20 gallons
E) $16, 50 gallons
Correct Answer:
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