Chapter 2: Supply and Demand—the Basics
f. Government programs which subsidize the price of water. 2. Use the following equations to answer the question below. Qd = 1500 - 0.5P Qs = -1000 + 2P. a. Find the equilibrium price and quantity. b. Suppose a perfectly-enforced price ceiling is imposed at a price of $950 per unit. ................
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