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Use the Following Information to Answer the Following Questions

Question 61

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 supplied if a price ceiling is set at $2,000?


A) 100
B) 154,100
C) 27,900
D) 21,474
E) 18,000

Correct Answer:

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