Question

Use the following information to answer the two questions that follow. Market for used cars: Demand:...

Use the following information to answer the two questions that follow.

Market for used cars:
Demand: Qd = 154,000 – 86 P
Supply: Qs = –100 + 14 P

What would be the quantity demanded if a price ceiling is set at $2,000?

a. 1541

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21474

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