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Calculate the surplus caused by the price floor.

Calculate the surplus caused by the price floor.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Calculate the surplus caused by the price floor. Provide your answer below: for Dusters of wi bushels of wheat Price Quantity Supplied Quantity Demanded $2 $6 $10 $14 $18 1,100 6,300 11,500 16,700 21,900 20,900 16,200 11,500 6,800 2,100 four set at $14 for a busnel of wheat
Transcribed Image Text:Calculate the surplus caused by the price floor. Provide your answer below: for Dusters of wi bushels of wheat Price Quantity Supplied Quantity Demanded $2 $6 $10 $14 $18 1,100 6,300 11,500 16,700 21,900 20,900 16,200 11,500 6,800 2,100 four set at $14 for a busnel of wheat
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