Multiple Choice
Use the following information to answer the questions that follow.
Market for used cars:
Demand: Qd = 154,000 - 86 P
Supply: Qs = -100 + 14 P
-What would be the quantity demanded if a price ceiling is set at $2,000?
A) 100
B) 154,100
C) 1,541
D) 21,474
E) 18,000
Correct Answer:
Verified
Correct Answer:
Verified
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