Suppose the market supply of a good is given by P = 10 + 0.2Q, the market demand is given by P = 60 – 0.5Q, and the market is in equilibrium. If the government imposes a price restriction of P = $20 per unit, then subsequent to this market intervention there will be a:
Suppose the market supply of a good is given by P = 10 + 0.2Q, the market demand is given by P = 60 – 0.5Q, and the market is in equilibrium. If the government imposes a price restriction of P = $20 per unit, then subsequent to this market intervention there will be a:
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