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The market demand curve for a perfectly competitive industry is QD = 12 – 2P. Themarket supply curve is QS = 3 + P. The market will be in equilibrium if

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Question:

The market demand curve for a perfectly competitive industry is QD = 12 – 2P. Themarket supply curve is QS = 3 + P. The market will be in equilibrium if

A.

P = 6 and Q = 9

B.

P = 5 and Q = 2

C.

P = 4 and Q = 4

D.

P = 3 and Q = 6

Answer» d. P = 3 and Q = 6

Note: The above multiple-choice question is for all general and Competitive Exams in India.