Question

P 2 3 4 5 6 7 8 9 10 11 12 13 14
QD 400 380 360 340 320 300 280 260 240 220 200 180 160
QS 40 80 120 160 200 240 280 320 360 400 440 480 520

Suppose the quota is lifted and a price ceiling of 11 is imposed. Find the new market price. How much will be actually be sold?

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