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Market Demand Is Given as QD = 400 - 2P

Question 203

Multiple Choice
Market demand is given as Q<sub>D </sub>= 400 - 2P.Market supply is given as Q<sub>S </sub>= 2P.Which legally imposed price would constitute a binding price ceiling

Market demand is given as QD = 400 - 2P.Market supply is given as QS = 2P.Which legally imposed price would constitute a binding price ceiling


A) $70
B) $120
C) $150
D) $170

Correct Answer:

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