The following are the equations for the supply and demand curves in the market for weezils: where Qd is the quantity demanded, Qs is the quantity supplied, and P is the price per weezil in dollars.
-Refer to Exhibit 4-1.If the government imposes a price floor of $4 a weezil, how many weezils will be sold?
A)5
B)10
C)12
D)14

Question

The following are the equations for the supply and demand curves in the market for weezils:   where Qd is the quantity demanded, Qs is the quantity supplied, and P is the price per weezil in dollars.
-Refer to Exhibit 4-1.If the government imposes a price floor of $4 a weezil, how many weezils will be sold?
A)5 
B)10 
C)12 
D)14

Quizplus · Accepted Answer

At a price of $4, the quantity supplied is 12, which is greater than the quantity demanded of 8. Therefore, there will be an excess of 4 weezils, and only 12 weezils will be sold.

The Following Are the Equations for the Supply and Demand