The graph below represents the market for electric cars. If a price floor is set at $92,000, calculate the surplus of cars that will result.
Can you please provide an explanation that I use to apply to future problems?
Homework Answers
When price floor = 92,000
Surplus = quantity supplied - quantity demanded
= 12,000 - 2,000 = 10,000
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____ # of electric cars, please provide your explanation so that
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