In the market for lattes, researchers have estimated the following demand and supply curves. Demand: P= 39-0.5Q Supply: P= 0.15Q If the government, worried about the profitability of the coffee business, imposes a price floor in the market of $10. What is the size of the excess supply? (round your answer to include 2 decimal places)

Microeconomics
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ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
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In the market for lattes, researchers have estimated the following demand and supply curves.
Demand: P= 39-0.5Q
Supply: P= 0.15Q
If the government, worried about the profitability of the coffee business, imposes a price floor in the market of $10. What is the size of the excess supply?
(round your answer to include 2 decimal
places)
_________ 

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