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Suppose the Market for Potatoes Can Be Expressed as Follows

Question 132

Essay

Suppose the market for potatoes can be expressed as follows:
Supply: QS = -20 + 10p
Demand: QD = 400 - 20p
If the government sets a maximum price of $10 per unit,what will be the quantity demanded and quantity supplied?

Correct Answer:

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With a maximum price of $10,suppliers wi...

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