Practice: The supply and demand curves for a product are as follows. What is quantity demanded if a price floor of $21 is set?

Q_{D} = 45 - 2P

Q_{S} = -15 + P

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Subjects

Sections | |||
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Consumer Surplus and Willingness to Pay | 38 mins | 0 completed | Learn |

Producer Surplus and Willingness to Sell | 26 mins | 0 completed | Learn |

Economic Surplus and Efficiency | 19 mins | 0 completed | Learn |

Quantitative Analysis of Consumer and Producer Surplus at Equilibrium | 28 mins | 0 completed | Learn |

Price Ceilings, Price Floors, and Black Markets | 39 mins | 0 completed | Learn |

Quantitative Analysis of Price Ceilings and Price Floors: Finding Points | 21 mins | 0 completed | Learn |

Quantitative Analysis of Price Ceilings and Price Floors: Finding Areas | 55 mins | 0 completed | Learn |

Concept #1: Quantitative Analysis of Price Ceilings and Price Floors: Finding Points

Practice: The supply and demand curves for a product are as follows. What is quantity demanded if a price floor of $21 is set?

Q_{D} = 45 - 2P

Q_{S} = -15 + P

Practice: The supply and demand curves for a product are as follows. What is quantity supplied if a price ceiling of $4 is set?

Q_{D} = 600 - 100P

Q_{S} = -150 + 150P

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Concept #1: Quantitative Analysis of Price Ceilings and Pric...

Practice #1: Quantitative Analysis

Practice #2: Quantitative Analysis

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