Table 6-3
The following table contains the demand schedule and supply schedule for a market for a particular good. Suppose sellers of the good successfully lobby Congress to impose a price floor $2 above the equilibrium price in this market. 
-Refer to Table 6-3. Following the imposition of a price floor $2 above the equilibrium price, irate buyers convince Congress to repeal the price floor and to impose a price ceiling $1 below the former price floor. The resulting market price is
A) $2.
B) $3.
C) $4.
D) $5.
Correct Answer:
Verified
Q154: Economists blame the long lines at gasoline
Q528: Table 6-2 Q529: Table 6-3 Q530: Table 6-5 Q531: Table 6-2 Q532: Table 6-5 Q534: Table 6-5 Q535: Table 6-4 Q537: Table 6-2 Q538: Table 6-4 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
The following table contains the demand![]()
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The following table contains the demand![]()
The following table contains the demand