The long run demand for eggs in Canada in 2010 was approximately represented by QD = 80 -24P million per month, with the price per dozen eggs. Long run supply was given by Q= -25 +60P. What would be the equilibrium price if the government sets a maximum production quota of 40 million? O 1.08 O 1.25 O 1.67 O 1.50

The long run demand for eggs in Canada in 2010 was approximately represented by QD = 80 -24P million per month, with the price per dozen eggs. Long run supply was given by Q= -25 +60P. What would be the equilibrium price if the government sets a maximum production quota of 40 million? O 1.08 O 1.25 O 1.67 O 1.50

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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