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The graph below represents the diesel fuel market. Calculate the surplus caused by the price floor. Supply and demand for diesel fuel with a price
The graph below represents the diesel fuel market. Calculate the surplus caused by the price floor. Supply and demand for diesel fuel with a price floor A supply and a demand curve are shown with a price floor at $7.25. Equilibrium price is $3.50 and equilibrium quantity is 27 gallons of diesel fuel. The quantity demanded at the price floor is 14 and quantity supplied is 42. Provide your answer below
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