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

– by
Question:

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

A.

P = 6 and Q =

B.

P = 3 and Q = 6

C.

P = 4 and Q = 4

D.

P = 5 and Q = 2

Answer» b. P = 3 and Q = 6

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