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Consider a market where supply and demand are given by QXS = -18 + PX and QXd = 90 - 2PX. Suppose the government imposes a price floor of $41, and agrees to purchase any and all units consumers do not buy at the floor price of $41 per unit.
Business Economics, Economics
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There are 100 identical firms in a perfectly competitive industry. Market demand is given by -200P +8000. If each firm has a marginal cost curve, MC = .4 q + 4. What is the firm's supply curve ? What is market supply? Wh ...
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