In a competitive market the market demand is qd 400

Economics

In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result in
a. a shortage of 80 units
b. a shortage of 44 units
c. a surplus of 26 units

d. neither a shortage nor a surplus

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9465798

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