Multiple Choice
Use the following information to answer the following questions.
Market for used cars:
Demand: Qd = 154,000 - 86P
Supply: Qs = -100 + 14P
-What would be the quantity demanded if a price ceiling is set at $1,000?
A) 500
B) 54,100
C) 68,000
D) 13,900
E) 21,474
Correct Answer:
Verified
Correct Answer:
Verified
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