Question: table [ [ Price , table [ [ Quantity ] , [ Demanded ] ] , table [ [ Quantity ] ,

\table[[Price,\table[[Quantity],[Demanded]],\table[[Quantity],[Supplied]]],[$20,2400,0],[$30,2000,200],[$40,1600,400],[$50,1200,600],[$60,800,800],[$70,400,1000],[$80,0,1200]]
Assume the government wants to use a binding price ceiling. Which price should the government set as the ceiling?
$40
$70
$60
None of the above.
 \table[[Price,\table[[Quantity],[Demanded]],\table[[Quantity],[Supplied]]],[$20,2400,0],[$30,2000,200],[$40,1600,400],[$50,1200,600],[$60,800,800],[$70,400,1000],[$80,0,1200]] Assume the government wants to use a binding price ceiling.

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