DatxBoixMatt5477 DatxBoixMatt5477

07-05-2024
Business

Answered

In a monopoly market the market demand curve is known to be P = 16-2Q. Then, which of the following statements is always TRUE about the market price and quantity demanded?

a) The equilibrium price is greater than 8.
b) The equilibrium price is less than 8.
c) The equilibrium quantity demanded is less than 2.
d) The equilibrium quantity demanded is greater than 4.

Answer :

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