Economics

Graph Input Tool 50 Market for Michigan Blueberries Supply Price (Dollars per box) 20 Quantity 378 Quantity Supplied Demanded 280 (Millions of boxes) (Millions of boxes) PRICE (Dollars per box) Demand O 0 70 140 210 280 350 420 490 580 630 700 QUANTITY (Millions of boxes) In this market, the equilibrium price is $ per box, and the equilibrium quantity of blueberries is |million boxes. For each of the prices listed in the following table, determine the quantity of blueberries demanded, the quantity of blueberries supplied, and the direction of pressure exerted on prices in the absence of any price controls. Price Quantity Demanded Quantity Supplied (Dollars per box) (Millions of boxes) (Millions of boxes) Pressure on Prices 30 20 True or False: A price ceiling above $25 per box is not a binding price ceiling in this market. True False