Question
Which of the following statements are correct given the following demand and supply equations? QD=15-P QS= -3 + P A. If a price floor of
Which of the following statements are correct given the following demand and supply equations?
QD=15-P QS= -3 + P
A. If a price floor of R5 is instituted from equilibrium, QS will change to 20 and QD to 5.
B. None of the above.
C. If a price ceiling of R3 is instituted from equilibrium, QS will change to 9 and QD to 3.
D. If a price floor of R3 is instituted from equilibrium, QS will change to 11 and QD to 1.
E. If a price ceiling of R3 is instituted from equilibrium, QS will change to 10 and QD to 5.
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The Economics Of Inequality
Authors: Thomas Piketty, Arthur Goldhammer
1st Edition
0674504801, 9780674504806
