Sppose demand and supply are given by qd 50

Economics

Suppose demand and supply are given by Qd = 50 - P and Qs = 1.0P - 10. Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $45 is imposed in this market Quantity demanded: Quantity supplied: Surplus: Determine the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling of $25 is imposed in the market. Also, determine the full economic price paid by consumers. Quantity demanded: Quantity supplied: Shortage: Full economic price:

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91704767

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