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Yeeeee89 Yeeeee89
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5 years ago

Question 1.




Refer to the above figure. If a price floor of $5 was set

• the quantity demanded would be 100 units.

• there would be a shortage of 20 units.

• the quantity sold would be 60 units.

• the quantity sold would be 80 units.

Question 2.




Refer to the above figure. If a price floor of $5 was set

• there would be a shortage of 40 units.

• the quantity sold would be 80 units.

• there would be a shortage of 20 units.

• there would be a surplus of 40 units.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
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jaded 7.jaded 7.
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