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QUESTION
The supply of corn is p=3+.001Q. Demand for corn is 10-.002Q. If the government sets a price ceiling of $2.75/bu on corn, how many bushels are
The supply of corn is p=3+.001Q. Demand for corn is 10-.002Q. If the government sets a price ceiling of $2.75/bu on corn, how many bushels are supplied?
P 3+.001Q0.25 .001Q0.003 10-.002Q= 10 .002Q9.75 Q 3250 Total Quantity 3250