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The demand and supply curves of pens in the cily of Nairobi are represented by the following function:- Quantity demanded Qd=204p Quantity supplied Qs =10
The demand and supply curves of pens in the cily of Nairobi are represented by the following function:- Quantity demanded Qd=204p Quantity supplied Qs =10 6p Where p is the price per pen. Required: i. Calculate the equilibrium price and quantity. [4 marks] ii. Examine the effect of a price ceiling set by the authorities at Shs. 2.00/= per pen. [2 marks]
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Environmental Economics and Management Theory, Policy and Applications
Authors: Scott J. Callan, Janet M. Thomas
6th edition
1111826673, 1111826676, 1439080634, 1439080631, 9781285528540 , 978-1111826673
