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johnboycs johnboycs
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Suppose the free-market equilibrium price of downtown-to-airport taxi service would be $45 per trip, but in an effort to protect taxi owners the government has fixed the price at $60 per trip. At this legislated price, the quantity ________ will be greater than the quantity ________, resulting in a ________ of downtown-to-airport taxi services.

▸ demanded; supplied; reduction in equilibrium price

▸ demanded; supplied; surplus

▸ demanded; supplied; shortage

▸ supplied; demanded; shortage

▸ supplied; demanded; surplus
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Microeconomics

Microeconomics


Edition: 17th
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billbyebillbye
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Just got PERFECT on my quiz
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