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1. Imagine the following graph represents the market for apartments in Toledo: P 120 138 160 If the local administration sets a price ceiling at

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1. Imagine the following graph represents the market for apartments in Toledo: P 120 138 160 If the local administration sets a price ceiling at p, what is excess demand for apartments? a. 18 apartments b. 22 apartments C 40 apartments d. 160 apartments

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