Price Quantity Demanded Quantity Supplied $50 120 0 $100 110 50 $150 100 100 $200 90 150 $250 80 200 $300 70 250 $350 60 300 $400 50 350 $450 40 400 $500 30 450 $550 20 500 What is the Equilibrium Price? $ 150 What is the Equilibrium Quantity? 100 What is the Equilibrium Price? $150 3 At the price of $250, how much are consumers willing and able to purchase? () At the price of $250, how much are producers willing and able to sell? (3 With a price floor of $250, how much will actually be bought and sold in the market? A price floor of $250 will (select from this menu) This price floor of $250 will make (select from this menu} better off. This price floor of $250 will make (select from this menu} worse off. What is the Equilibrium Price? $150 3 (> What is the Equilibrium Quantity? 100 Suppose the government imposes a price floor of $250 on this good. You should sketch a graph to help you answer the following questions. This price control will be (select from this menu) This price control will create a surplus. (:5 At the price of $250, able to purchase? create a shortage. have no effect on the market. At the price of $250, able to sell? () With a price floor of $250, how much will actually be bought and sold in the market? A price floor of $250 will (select from this menu) This price floor of $250 will make (select from this menu) better off. This price floor of $250 will make (select from this menu) 3 worse off. What is the Equilibrium Price? $150 3 () What is the Equilibrium Quantity? 100 Suppose the government imposes a price floor of $250 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 (select from this menu) v At the price of $250, how much are consumers willing and able to purchase? (> At the price of $250, how much are producers willing and able to sell? With a price floor of $250, how much will actually be bought and sold in the market? A price floor of $250 will J (select from this menu) This price floor of $250 create a surplus 01:80 create a surplus of 120 better Off' create a surplus of 200 This price floor 01' $250 create a shortage of 80 worse off. create a shortage of 120 create a shortage of 200 have no effect on the market. What is the Equilibrium Price? $150 3 C) What is the Equilibrium Quantity? 100 Suppose the government imposes a price floor of $250 on this good. You should sketch a graph to help you answer the following questions. This price control will be (select from this menu) 7 4b This price control will (select from this menu) With a price floor of $250' how much will actually be bought and sold in the market? 4} A price floor of $250 will (select from this menu) This price floor of $250 will make I (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 $250 This price floor 0f $250 Will make all producers who want to sell the good worse Off. only those producers who are still able to sell the good at $250 everyone in the market no one in the market only the government What is the Equilibrium Price? $150 3 (> What is the Equilibrium Quantity? 100 Suppose the government imposes a price floor of $250 on this good. You should sketch a graph to help you answer the following questions. 0 This price control will be (select from this menu) 10' This price control will (select from this menu) At the price of $250, how much are consumers willing and able to purchase? At the price of $250, how much are producers willing and able to sell? With a price floor of $250, how much will actually be bought and sold in the market? A price floor of $250 will (select from this menu) 3 4b This price floor of $250 will make (select from this menu) better off. This price floor of $250 will make of (select from this menu) worse off. all consumers who want to purchase the good only those consumers who are still able to buy the good at $250 all producers who want to sell the good only those producers who are still able to sell the good at $250 everyone in the market no one in the market only the government