Practice: The supply and demand curves for a product are as follows. What is quantity demanded if a price floor of $21 is set?
QD = 45 - 2P
QS = -15 + P
Concept #1: Quantitative Analysis of Price Ceilings and Price Floors: Finding Points
Practice: The supply and demand curves for a product are as follows. What is quantity demanded if a price floor of $21 is set?
QD = 45 - 2P
QS = -15 + P
Practice: The supply and demand curves for a product are as follows. What is quantity supplied if a price ceiling of $4 is set?
QD = 600 - 100P
QS = -150 + 150P
