I would like assistance with the following question please and thank. 1. Consider the market for straw hats on a tropical island. The demand and supply schedules are given at the right.

a. The equilibrium price for straw hats is $|_|. The .. Market for Straw Hats equilibrium quantity demanded and quantity supplied is Quantity Quantity D hats. Price Demanded Supplied $1.00 1000 200 b. Suppose the government believes that no islander $200 900 300 should have to pay more than $4 for a hat. The $300 300 400 government can achieve this by imposing a $400 700 500 - $5.00 600 600 $6.00 500 700 c. At the government-controlled price of $4 there will be $7.00 400 800 $8.00 300 900 M a E of D hats. d. Suppose now that the government believes the island's hat maker's are not paid enough for their hats and that islanders should pay no less than $6 for a hat. They can achieve this by imposing a - e. At the new govemmentcontrolled price of $6 there will be a of D hats