Question: 1 1. Demand for hammers is given by d = 70 - 6Qd and supply of hammers is given by Ps = Q'. Introducing a

1 1. Demand for hammers is given by d = 70 - 6Qd and supply of hammers is given by Ps = Q'. Introducing a price floor of $1 1 will result in: A. Quantity demanded being larger than quantity supplied B. Quantity demanded being less than quantity supplied. C. Quantity demanded equals to quantity supplied. D. Quantity demanded is ambiguous. E. None of the above

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