ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Figure 6-8
S.
S,
Price Ceiling
Demand
Q,
QUANTITY (Gallons of gasoline)
Refer to Figure 6-8. When the price ceiling is enforced in this market, and the supply curve for gasoline shifts from S1 to S 2, the resulting quantity of gasoline that is bought and sold is
O a. Q3.
O b. at least Q1-
O c. between Q1 and Q3
O d. less than Q3.
PRICE (Dollars per gallon)
a" a"
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Transcribed Image Text:Figure 6-8 S. S, Price Ceiling Demand Q, QUANTITY (Gallons of gasoline) Refer to Figure 6-8. When the price ceiling is enforced in this market, and the supply curve for gasoline shifts from S1 to S 2, the resulting quantity of gasoline that is bought and sold is O a. Q3. O b. at least Q1- O c. between Q1 and Q3 O d. less than Q3. PRICE (Dollars per gallon) a" a"
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