Using the table below answer the following question Price Quantity demanded Quantity supplied $300 60 30 $400 55 40 $500 50 50 $600 45 60 $700 40 70 $800 35 80 In response, to lobbying by the skate board association, the government places a price ceiling at the price of $700 on skate boards. What will this have on the market for skate boards? Explain your answer
Using the table below answer the following question Price Quantity demanded Quantity supplied $300 60 30 $400 55 40 $500 50 50 $600 45 60 $700 40 70 $800 35 80 In response, to lobbying by the skate board association, the government places a price ceiling at the price of $700 on skate boards. What will this have on the market for skate boards? Explain your answer
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Using the table below answer the following question
| Quantity |
Quantity supplied | |
| $300 | 60 | 30 |
| $400 | 55 | 40 |
| $500 | 50 | 50 |
| $600 | 45 | 60 |
| $700 | 40 | 70 |
| $800 | 35 | 80 |
In response, to lobbying by the skate board association, the government places a
for skate boards? Explain your answer
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