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I like this old school graph... look at it carefully. A $10 price ceiling would Supporting Materials Price unit $ 120 $100 $ 60 P
I like this old school graph... look at it carefully. A $10 price ceiling would Supporting Materials Price unit $ 120 $100 $ 60 P $ 40 $20 D 400 1200 Quantity 1400 (units of the good/ O Reduce consumer surplus but increase producer surplus Increase consumer surplus but decrease producer surplus Result in consumer surplus of $2000 Reduce consumer and producer surplus None of these is correct
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