Part 1 (1 point) If the city of Troy passed a law limiting the price of...

 

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Part 1 (1 point) If the city of Troy passed a law limiting the price of a parking permit to no more than $3, there would be excess demand of permits. Part 2 (1 point) If the city of Troy amends its law to allow permits to be sold at a price of up to $12 each, there will be an excess demand of permits. 16 15 14 Price 13 12 11 10 9 TO 7 90 S M 4 S D Quantity 16 Part 1 (1 point) If the city of Troy passed a law limiting the price of a parking permit to no more than $3, there would be excess demand of permits. Part 2 (1 point) If the city of Troy amends its law to allow permits to be sold at a price of up to $12 each, there will be an excess demand of permits. 16 15 14 Price 13 12 11 10 9 TO 7 90 S M 4 S D Quantity 16

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Ans 1 When the price of the parking permit is limi... View the full answer