consider a market characterized by the following inverse demand and supply functions: Px=30-3Qx and Px=10+2Qx. Compute the

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consider a market characterized by the following inverse demand and supply functions: Px=30-3Qx and Px=10+2Qx. Compute the number of units exchanged and the price at which those unites will be exchanged when there is a $24 per unit price floor
a) 4 Units and $18 per unit
b) 2 Units and $24 per unit
c) 2 Units and $14 per unit
d) 9 Units and $8 per unit
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Microeconomics

ISBN: 9781464146978

1st Edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

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