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The market of Vodka Tonic can be summarized by the following information: P = 360- 3/2*Q and P = 100+ 2/3*Q. If the price floor of $120 is imposed in...
The market of Vodka Tonic can be summarized by the following information: P = 360- 3/2*Q and P = 100+ 2/3*Q. If the price floor of $120 is imposed in this market, which of the following is correct?
The quantity supplied is 255
The quantity demanded is 60
The surplus is 195
All the above are correct