Consider the following data about the quantity supplied (QS) and quantity demand
ID: 1180189 • Letter: C
Question
Consider the following data about the quantity supplied (QS) and quantity demanded (QD) for a good at different prices:
Price
QS
QD
22
72
60
20
68
62
18
64
64
16
60
66
14
56
68
12
54
70
Suppose a quantity restriction is imposed such that no more than 60 units of this good can be supplied. After this quantity restriction is imposed, firms will charge ____ for each unit of the good.
Price
QS
QD
22
72
60
20
68
62
18
64
64
16
60
66
14
56
68
12
54
70
Explanation / Answer
B)
$16
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