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The following table contains the demand schedule and supply schedule for a market for a particular good: Price per unit Quantity demanded Quantity supplied $5

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The following table contains the demand schedule and supply schedule for a market for a particular good: Price per unit Quantity demanded Quantity supplied $5 8400 2400 $10 6500 3000 $15 5700 3900 $20 4300 4300 $25 3600 5200 $30 2100 6300 $35 1700 7100 $40 900 8200 If the government places a price ceiling at P = $15, a. (4 points) what will be the market price? b. (4 points) Will there be a shortage or surplus, and if so, how large will it be? If there is no shortage or surplus, put zero on both blanks. c. (4 points) How many units will be sold

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