Price of X ($) 20 18 16 14 12 10 8 6 4 2 0 1 S1 so 2 3 4 5 6 D Quantity of Good X Maple Electronics has identified their demand D. Suppose they are moving from the Supply S1 to 50. If a price ceiling of $6 is imposed for the new supply, what is the resulting full economic price? Answer with the number alone.

Price of X ($) 20 18 16 14 12 10 8 6 4 2 0 1 S1 so 2 3 4 5 6 D Quantity of Good X Maple Electronics has identified their demand D. Suppose they are moving from the Supply S1 to 50. If a price ceiling of $6 is imposed for the new supply, what is the resulting full economic price? Answer with the number alone.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 5P

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