Qs = 4P

QD = 400-P

The equilibrium price is $______ and the equilibrium quantity is ________. The government imposes a price ceiling of $90. This price ceiling is ____________________. The market price will be $_________. The quantity supplied will be ____________ and the quantity demanded will be _______. This price ceiling of $90 will result in ___________________________.

The government imposes a price floor of $90. This price floor is _____________. The market price will be $_______. The quantity supplied will be _____________and the quantity demanded will be _____________. This price floor of $90 will result in _______________________.

The government levies a tax on producers of $10. As a result, the new supply curve is Qs=4 (P-10). With this tax, the market price will be $_____________, the quantity supplied will be _____________, and the quantity demanded will be ______________. This tax will result in _____________.