Figure shows a price floor of $21 in the market for guitar lessons. Calculate the dollar value
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2. causes the price to rise Price per Bottle $3.00 3. shrinking the excess demand until price reaches its equilibrium value of S3.00 1.00-H Excess 1Demand 1. At a price of $1.00 per bottle an excess demand of 50,000 bottles Number of Bottles per Month 25,000 50,000 75,000
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Macroeconomics Principles and Applications
ISBN: 978-1133265238
5th edition
Authors: Robert e. hall, marc Lieberman
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