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Market Equilibrium & Price Controls · Question 47 of 52

In the graph, at the floor of ₹8, how many units do buyers actually purchase?

Question 47

MediumOriginal question

In the graph, at the floor of ₹8, how many units do buyers actually purchase?

Demand D (Qd = 100 − 10P) and supply S (Qs = 10P − 20) with equilibrium at ₹6. A price floor is set at ₹8: there, quantity demanded is 20 and quantity supplied is 60.
Options for question 47

Show the answer and explanation
CorrectNot quiteAnswer A

Correct answer: A

Explanation

  1. At ₹8, buyers want only 20 units.

  2. Sellers offer 60; the other 40 are surplus that buyers do not take.

Concept
Quantity bought under a floor
Typical time
70 s
Your time
—
The rule this testsPrice ceiling and price floor
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Ten questions from Market Equilibrium & Price Controls, at your own pace.

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Ten questions from Market Equilibrium & Price Controls, at your own pace.

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