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Home Q & A Board Other Fields Homework Help Business Economics
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jscubs1 jscubs1
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A year ago
Consider a market characterized by the following demand and supply conditions: QD = 220 - p and QS = 40 + 2p. If the prevailing market price is $70, then

▸ the market experiences a shortage of 40 units.

▸ the market is clearing.

▸ the market experiences a shortage of 30 units.

▸ the market experiences a surplus of 40 units.

▸ the market experiences a surplus of 30 units.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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danterichdanterich
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A year ago
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jscubs1 Author
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A year ago
Smart ... Thanks!
my2redeyes
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Yesterday
Brilliant ツ
kc123
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2 hours ago
Thanks
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