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

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The market demand curve for a perfectly competitive industry is QD = 12 – 2P. The market supply curve is QS = 3 + P. The market will be in equilibrium at _____? Answer: P = 3 and Q = 6

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