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Answer all questions and parts please with details!! Question 3) A recent study found that the demand-and-supply schedules for Frisbees are as follows: Price per

Answer all questions and parts please with details!!

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Question 3) A recent study found that the demand-and-supply schedules for Frisbees are as follows: Price per Frisbee Quantity demanded Quantity supplied 11$ 1million 15million 10 2 12 9 4 9 8 6 6 7 8 3 I5 10 1 a. What are the equilibrium price and quantity of Frisbees? b. Frisbee manufacturers persuade the government that Frisbee production improves scientists' understanding of aerodynamics and thus is important for national security. A concerned Congress votes to impose a price oor $2 above the equilibrium price. What is the new market price? How many Frisbees are sold? 0. Irate college students march on Washington and demand a reduction in the price of Frisbees. An even more concerned Congress votes to repeal the price oor and impose a price ceiling $1 below the former price oor. What is the new market price? How many Frisbees are sold? Chapter 7 Question 4) Suppose the demand for French bread rises. Explain what happens to producer surplus in the market for French bread. Explain what happens to producer surplus in the market for our. Illustrate your answers with diagrams

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