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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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