90 80 70 60 50 40 30 20 120 180 240 300 360 420 480 540 600 660 720 780 840 If a price floor of $60 is imposed in the market above, which of the following is true? O a. There is an excess supply of 300 O b. There is a shortage of 180 O c. There is an excess supply of 420 d. There is an excess supply of 180 10

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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90
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780 840
If a price floor of $60 is imposed in the market above, which of the following is true?
O a. There is an excess supply of 300
O b. There is a shortage of 180
O c. There is an excess supply of 420
d. There is an excess supply of 180
10
Transcribed Image Text:90 80 70 60 50 40 30 20 120 180 240 300 360 420 480 540 600 660 720 780 840 If a price floor of $60 is imposed in the market above, which of the following is true? O a. There is an excess supply of 300 O b. There is a shortage of 180 O c. There is an excess supply of 420 d. There is an excess supply of 180 10
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