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28 Sep 2019
The widget industry is perfectly competitive. The industry demand and supply functions for widgets are given below.
Qd = 424 - 40P
Qs = 40 + 8P
If the government establishes a price ceiling of $6, explain what will result in terms of excess demand or supply.
The widget industry is perfectly competitive. The industry demand and supply functions for widgets are given below.
Qd = 424 - 40P
Qs = 40 + 8P
If the government establishes a price ceiling of $6, explain what will result in terms of excess demand or supply.
Yusra AneesLv10
28 Sep 2019