Price $30 $80 $130 $180 $230 $280 $330 $380 $430 $480 $530 What is the Equilibrium Price? What is the Equilibrium Quantity? $180 150 A Quantity Demanded () 180 170 160 150 140 130 120 110 100 90 80 Quantity Supplied 0 50 100 150 200 250 300 350 400 450 500 What is the Equilibrium Price? $180 3 With a price floor of $80, how much will actually be bought and sold in the market? A price floor of $80 will (select from this menu) This price floor of $80 will make (select from this menu) better off. i This price floor of $80 will make (select from this menu) 7 worse off. What is the Equilibrium Price? $180 3 () What is the Equilibrium Quantity? 150 Suppose the government imposes a price floor of $80 on this good. You should sketch a graph to help you answer the following questions. 4} This price control will be (select from this menu) This price control will \\I (select from this menu) create a surplus. (5 At the price of $80, h ble to purchase? create a shortage. have no effect on the market. What is the Equilibrium Quantity? 150 Suppose the government imposes a price floor of $80 on this good. You should sketch a graph to help you answer the following questions. This price control will be (select from this menu) y This price control will (select from this menu) v At the price of $80, how much are producers willing and able to sell? (3 With a price floor of $80, how much will actually be bought and sold in the market? A price floor of $80 will J (select from this menu) This price floor of $80 create a surplus Of 50 better off. create a surplus of 120 create a surplus of 170 This price floor of $80 create a shortage of 50 worse off. create a shortage of 120 create a shortage of 170 have no effect on the market. What is the Equilibrium Price? $180 3 At the price of $80, how much are consumers willing and able to purchase? At the price of $80, how much are producers willing and able to sell? With a price floor of $80, how much will actually be bought and sold in the market? A price floor of $80 will (select from this menu) v This price floor of $80 will make J (select from this menu} better off. all consumers who want to purchase the good only those consumers who are still able to buy the good at $80 This price floor of $80 will make worse off. all producers who want to sell the good only those producers who are still able to sell the good at $80 everyone in the market no one in the market only the government What is the Equilibrium Price? $180 3 What is the Equilibrium Quantity? 150 Suppose the government imposes a price floor of $80 on this good. You should sketch a graph to help you answer the following questions. 4} This price control will be (select from this menu) {It This price control will (select from this menu) () At the price of $80, how much are consumers willing and able to purchase? At the price of $80, how much are producers willing and able to sell? With a price floor of $80, how much will actually be bought and sold in the market? A price floor of $80 will (select from this menu) This price floor of $80 will make (select from this menu) better off. This price floor of $80 will make J (select from this menu) I worse off. all consumers who want to purchase the good only those consumers who are still able to buy the good at $80 all producers who want to sell the good only those producers who are still able to sell the good at $80 everyone in the market no one in the market only the government