Problem

Supply and Demand ( from the GRE Economics Test) In the market for soy...

Supply and Demand ( from the GRE Economics Test) In the market for soybeans, the demand and supply functions are

is quantity demanded, is quantity supplied, and P is price in dollars. If the government sets a price floor of $7, what will be the resulting surplus or shortage?

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Solutions For Problems in Chapter 3.1

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