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Suppose Demand Is Given By Qd=50015PQ ^ { d } = 500 - 15 P

Question 9

Multiple Choice

Suppose demand is given by Qd=50015PQ ^ { d } = 500 - 15 P and supply is given by Qs=5PQ ^ { s } = 5 P . If the government imposes a $15\$ 15 price ceiling, the excess demand will be


A) 200
B) 225
C) 250
D) 275

Correct Answer:

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