In 2020 a price ceiling of $4 was imposed on each pound of steak sold. The price ceiling was below the existing market prices. Using the information in the graph and the equations, write sentences that describe how each of the following variables changed from the situation before the price control to the situation with the price control. Here are the equations.

DemandP = 10 - Q/100.

Supply:P = 2 + Q/100.

When asked how to allocate the steak in this environment, the government gave out rationing coupons to the consumers between 401 and 600 who were not purchasing steak before because they had lower willingness to pay than other consumers. They cannot resell the coupons. The price ceiling was perfectly enforced. The opportunity cost for a person per hour waiting in line is $1.

QUESTION 8 Which of the following has steps of the accounting cycle in proper sequence (some steps may be missing)? a, prepare a trial balance, analyze adjustment data, prepare adjusting entries, prepare financial statements, journalize closing entries and post to the ledger, analyze and record transactions, post transactions to the ledger Ob. prepare financial statements, journalize closing entries and post to the ledger, analyze and record transactions, post transactions to the ledger, prepare a trial balance, analyze adjustment data, prepare adjusting entries c. analyze and record transactions, post transactions to the ledger, prepare a trial balance, analyze adjustment data, prepare adjusting entries, prepare financial statements, journalize closing entries and post to the ledger, and prepare a post-closing trial balance Od. analyze and record transactions, post transactions to the ledger, prepare a trial balance, prepare financial statements, journalize closing entries, analyze adjustment data and prepare adjusting entriesQUESTION 4 / 11 According to the trial balance, what is the working capital? Trial Balance Cash $ 10,000 Accounts Receivable (AR) 2,000 Inventory 3,000 Accounts Payable (AP) 2,000 Accrued Expenses (AE) $ 3,000 Revenue $ 15,000(show all work for full credit) Include all these features: 1. Optimize the following circuits 2. For all questions show the circuit before and after optimization 3. Truth table 4. Boolean expression; Original and optimized 5. Karnaugh Map and optimization process 3 Element Karnaugh Map YZ 00 01 11 10 X 1) F(X Y,Z) =XYZ + XYZ+ XYZ +XYZ 2) F(A.B,C,D) = MI,M5,M6, M9, M10, M13, M14 00 01 11 10 00 0000 | 0001 | 0011 0010 MO M1 M3 M 01 0100 0101 0111 0110 M4 M5 M7 M6 11 1100 1101 1111 1110 M12 M13 M15 M14 10 1000 1001 1011 1010 M8 M9 M11 M10 3) F(A.B,C,D) = MO,MI,M2,M3,M4, M5, M6, M7, M9,M1 1 (same analysis as question 2 just a different way of asking the question with different components)QUESTION S Behavioral economics A studies why people choose not to optimize B. Studies why people optimize C Studies why people sometimes don't optimize @ D. Studies why people behave badly when buying or selling QUESTION 6 A market @ A Always involves the personal exchange of goods for money @ B. Allows interactions betweenbuyers and sellers C Always takes place at a physical location @ D. Has no influence of prices QUESTION 7 If the price of automobiles were to increase substantially. the demand curve for gasoline would most likely DA. Shift leftward B. Shift rightward C. Remain unchanged 1) D. Become steeper4) You have learned in this course that one of the most practical applications of Derivatives is in the process of "Optimization Problems". You have been taught, in general, the key ideas, features, processes, and steps necessary to correctly solve an Optimization Problem. Given an optimization problem, explain how to go about solving it. In addition, explain under what circumstances your answers would be inadmissible/invalid based on the question being asked