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Quiz
Related Lesson
Price Ceilings: Shortages and Quality Reduction
Knowledge Check
Knowledge Check
Question 1 of 5
What is the equilibrium price and quantity of milk? Use the demand and supply schedule below to answer the question.
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a.
price: $4; quantity: 4500
b.
price: $3; quantity: 3500
c.
price: $2, quantity: 2000
d.
Indeterminate from the information given.
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Related Courses
Course
Principles of Microeconomics
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