lectur14-page3

lectur14-page3 - P 1 1 There is a surplus of goods 2 Price...

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3 A SURPLUS A. P e and Q e represent the market clearing price and quantity. B. Assume the government sets a price at
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Unformatted text preview: P 1 : 1. There is a surplus of goods. 2. Price must fall for the market to clear....
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