1. Business
  2. Economics
  3. the graph below represents the market for electric cars if...

Question: the graph below represents the market for electric cars if...

Question details

The graph below represents the market for electric cars. If a price floor is set at $92,000, calculate the surplus of cars that will result.

Price $21,000 $37,000 $55, 00 $75,000 $92,000 Quantity Supplied 1,000 3,000 5, 000 8,000 12,000 Quantity Demanded 9,000 6,750 5,000 4,000 2,000

Can you please provide an explanation that I use to apply to future problems?

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution