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Market Demand Is Given as QD = 120 - 2P

Question 168

Multiple Choice
Market demand is given as Q<sub>D </sub>= 120 - 2P.Market supply is given as Q<sub>S </sub>= P + 30.Which legally imposed price would constitute a binding price ceiling

Market demand is given as QD = 120 - 2P.Market supply is given as QS = P + 30.Which legally imposed price would constitute a binding price ceiling


A) $20
B) $30
C) $40
D) $50

Correct Answer:

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