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The market for coffee beans is described by the following equations: Q s = 2P 8 Q d = 16 P Suppose the
The market for coffee beans is described by the following equations:
Q s = 2P – 8
Q d = 16 – P
- Suppose the government sets a price ceiling at $10. Is there a shortage? Is there a surplus?
- The government lowers the price ceiling to $5. Describe the changes in shortage/surplus.
- Now suppose a price floor/ceiling has been instituted, which causes a surplus of 9 units. Is this a floor or a ceiling? What specific price would create this surplus?
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AT P10 SUPPLY2x10812 DEMAND1688 SUPPLY MORE THAN DEMAND MEANS THERE WILL BE SURP...
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Digital Signal Processing
Authors: Jonh G. Proakis, Dimitris G.Manolakis
3rd Edition
978-0133737622, 133737624, 978-013373762
