Question: Demand for a good is given by QD=100 - P and supply by QS= 0.5P-20, where P is the market price of the good. In

Demand for a good is given by QD=100 - P and supply by QS= 0.5P-20, where P is the market price of the good. In equilibrium, price and output under perfect competition will be:

A) $70 and 30 units respectively

B) $60 and 10 units respectively

C) $80 ad 20 units respectively

d) $100 and 30 units respectively

e) $120 and 35 units respectively

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