Consider the following table which shows the demand and supply of good D. Use the given information to answer questions 26 - 32. Quantity Quantity
Consider the following table which shows the demand and supply of good D. Use the given information to answer questions 26 - 32. Quantity Quantity Price Demanded Supplied $50 1,000 0 $100 900 150 $150 800 300 $200 700 450 $250 600 600 $300 500 750 $350 400 900 $400 300 1,050 $450 200 1,200(This is a bonus question. This question is worth 2 points.) Suppose a price ceiling = $5 is imposed. Find the PS. (Don't forget to multiply 0.5 when you calculate the area of a triangle.) Answer: The P8 = $
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