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Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90-0.20Q. If there is a price floor of 2.94, what would be the quantity traded?
Business Economics, Economics
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What is the theory of consumer choice and how it consumers facing trade-offs make decisions and how they respond to changes in their environment?
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Suppose that Serendipity Bank has excess reserves of $12,000 and check able deposits of $150,000. If the reserve ratio is 20 percent, what is the size of the bank's actual reserves?
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