If the demand and supply are identical to the question above but a price ceiling of 6 is imposed, what will the shortage be?
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Q53: According to the model of supply and
Q54: Supposed the government imposed a binding price
Q55: (Appendix) The new equilibrium quantity is
A)7
B)2
C)3
D)5
Q56: Say at the current price there is
Q57: If the price of roses increases:
A)The demand
Q58: Say the market for cereal is initially
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Q62: (Appendix) What is the equilibrium quantity of
Q63: Suppose the market for Mexican food in
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