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(Figure: Market for Logs) A quota of 10,000 logs forest wood per month is placed in the market that is shown in the figure. The quota the quantity that is sold in the market by logs. Price $25,000 $22,000 $21,000 $20,000 $19,000 $17,000 $15,000 $13,000 $7,000 lowers; 10,000 raises; 4,000 lowers; 2,000 raises; 10,000 6 8 10 12 Supply Demand Quantity (thousands per month)

(Figure: Market for Logs) A quota of 10,000 logs forest wood per month is placed in the market that is shown in the figure. The quota the quantity that is sold in the market by logs. Price $25,000 $22,000 $21,000 $20,000 $19,000 $17,000 $15,000 $13,000 $7,000 lowers; 10,000 raises; 4,000 lowers; 2,000 raises; 10,000 6 8 10 12 Supply Demand Quantity (thousands per month)

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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(Figure: Market for Logs) A quota of 10,000 logs forest wood per month is placed in the market that is shown in the figure. The quota the quantity that is sold in the market by logs. Price $25,000 $22,000 $21,000 $20,000 $19,000 $17,000 $15,000 $13,000 $7,000 lowers; 10,000 raises; 4,000 lowers; 2,000 raises; 10,000 B 10 12 Supply Demand Quantity (thousands per month)
Transcribed Image Text:(Figure: Market for Logs) A quota of 10,000 logs forest wood per month is placed in the market that is shown in the figure. The quota the quantity that is sold in the market by logs. Price $25,000 $22,000 $21,000 $20,000 $19,000 $17,000 $15,000 $13,000 $7,000 lowers; 10,000 raises; 4,000 lowers; 2,000 raises; 10,000 B 10 12 Supply Demand Quantity (thousands per month)
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