In the market for lattes, researchers have estimated the following demand and supply curves. Demand: P= 39-0.5Q Supply: P= 0.15Q If the government, worried about the profitability of the coffee business, imposes a price floor in the market of $10. What is the size of the excess supply? (round your answer to include 2 decimal places)
In the market for lattes, researchers have estimated the following demand and supply curves. Demand: P= 39-0.5Q Supply: P= 0.15Q If the government, worried about the profitability of the coffee business, imposes a price floor in the market of $10. What is the size of the excess supply? (round your answer to include 2 decimal places)
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter5: Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 15PAE
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In the market for lattes, researchers have estimated the following demand and supply
Demand: P= 39-0.5Q
Supply: P= 0.15Q
If the government, worried about the profitability of the coffee business, imposes a
(round your answer to include 2 decimal
places)
_________
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