Question
10. If demand is P=80-2Q, and supply is p=5+Q, with price in dollars and quantity in thousands, what would be the effect of a $20
10. If demand is P=80-2Q, and supply is p=5+Q, with price in dollars and quantity in thousands, what would be the effect of a $20 price ceiling?
A: A shortage of 15,000B: A shortage of 7500
C: A surplus of 15,000D: A surplus of 7500
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Macroeconomics A European Perspective
Authors: Olivier Blanchard, Alessia Amighini, Francesco Giavazzi
4th Edition
1292360895, 9781292360898
