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08-06-2019
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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.

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08-06-2019

Price: $21,000, $37,000, $55,000, $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

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