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Market demand is given as QD = 280 - 4P. Market supply is given as QS = 2P + 40. Which legally imposed price would
Market demand is given as QD = 280 - 4P. Market supply is given as QS = 2P + 40. Which legally imposed price would constitute a binding price floor?
| a. | $30 | |
| b. | $40 | |
| c. | $50 | |
| d. | $55 |
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College Mathematics for Business Economics Life Sciences and Social Sciences
Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen
12th edition
321614003, 978-0321614001
