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Suppose that a price ceiling of $3 per carton is imposed on the market for Pens, whose demand and supply curves are illustrated below. Suppose

Suppose that a price ceiling of $3 per carton is imposed on the market for Pens, whose demand and supply curves are illustrated below. Suppose further that a black market arises for pens. (You can assume that pen manufacturers are unable to sell on the black market.) The black market price is:

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