In a competitive market,the market demand is Q^d = 60 − 6P and the market supply is Q^s = 4P.A price floor of $9 will result in a:

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To determine the effect of a price floor, we first calculate the quantity demanded and supplied at the price floor of $9. For the demand: QD = 60 - 6(9) = 60 - 54 = 6. For the supply: QS = 4(9) = 36. Since QS > QD, there is a surplus, and the surplus amount is QS - QD = 36 - 6 = 30 units.

In a Competitive Market,the Market Demand Is Qd = 60

In a Competitive Market,the Market Demand Is Q^d = 60