not use ai please Suppose the demand curve is given by P=470-2Q and the supply curve is given by P=5Q Suppose the supply curve shifts left by 20. How much lower is total surplus in the new equilibrium than in the old equilibrium? Give your answer to 2 decimal places.
not use ai please Suppose the demand curve is given by P=470-2Q and the supply curve is given by P=5Q Suppose the supply curve shifts left by 20. How much lower is total surplus in the new equilibrium than in the old equilibrium? Give your answer to 2 decimal places.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter4: Labor And Financial Markets
Section: Chapter Questions
Problem 11SCQ: Select the correct answer. A price floor will usually shift: demand supply both neither Illustrate...
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not use ai please
Suppose the demand curve is given by P=470-2Q and the supply curve is given by P=5Q
Suppose the supply curve shifts left by 20.
How much lower is total surplus in the new equilibrium than in the old equilibrium? Give your answer to 2 decimal places.
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