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DOCS $3.50 $3.00 Hub 5 points $2.50 loud 00.56:46 $2.00 $1.50 $1.00 eBook $0.50 O 0 Print 10 20 30 40 50 60 70 80

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DOCS $3.50 $3.00 Hub 5 points $2.50 loud 00.56:46 $2.00 $1.50 $1.00 eBook $0.50 O 0 Print 10 20 30 40 50 60 70 80 Quantity (In thousands) References Instructions: Round all dollar amounts two decimal places. a. What is the equilibrium price and quantity? The equilibrium price is $ The equilibrium quantity is thousand gallons of milk. b. Suppose the government impliments a price floor of $3.00 per gallon. The quantity demanded will bethousand gallons of milk. The quantity supplied will be thousand gallons of milk

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