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5) Market demand for ethanol is Qd = 60 -5P and market supply is Qs = 20 + 15 P. What is the effect on

5) Market demand for ethanol is Qd = 60 -5P and market supply is Qs = 20 + 15 P. What is the effect on economic efficiency if the government institutes a price ceiling of $1.40? Price Quantity

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