Given a market demand curve Q=120-2p and a supply curve Q = 4p, the equilibrium...
ECONOMICS
JAMB 1997
Given a market demand curve Q=120-2p and a supply curve Q = 4p, the equilibrium price and quantity respectively are?
- A. 20 and 80
- B. 30 and 120
- C. 40 and 60
- D. 60 and 240
Correct Answer: A. 20 and 80
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