Question: 2 Why does the demand curve have a negative slope and the supply curve a positive slope? 4 What might keep the market from moving
2 Why does the demand curve have a negative slope and the supply curve a positive slope? 4 What might keep the market from moving all the way to that equilibrium point? 5 Suppose that a price ceiling is imposed on the product. What will be the effects on producers' welfare? On consumers' welfare? How does the ceiling affect overall market efficiency? 6 Suppose that a price floor is imposed on the product. What will be the effects on producers' welfare? On consumers' welfare? How does the price floor affect overall market efficiency
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