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Market Demand Is Given as QD = 150 - 3P

Question 162

Multiple Choice
Market demand is given as Q<sub>D </sub>= 150 - 3P.Market supply is given as Q<sub>S </sub>= 2P + 50.Which legally imposed price would constitute a binding price ceiling

Market demand is given as QD = 150 - 3P.Market supply is given as QS = 2P + 50.Which legally imposed price would constitute a binding price ceiling


A) $15
B) $20
C) $25
D) $30

Correct Answer:

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