Question #5: Given the demand and supply system: Pb = 63-5 Qb & Pv = 3+2 Qv At a price-floor of P = 5, how much excess supply exists?

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A: Step 1: Find the Equilibrium Demand Equation:Qd = 200 − 2P Supply Equation:Qs = 2P Set the demand…

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A: The correct answer is:  It is still 100 percent because examination of the cheque expose it and…

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