Question 6 6 points Save Answer Consider that the retail market for sanitizing wipes in a small locale is described by the follow demand and supply equations respectively: P =10.60 0.04Q and P = 6.40 + 0.01Q where P is the price in dollars and Q is the quantity measured in thousands per week. The market is currently in equilibrium. (Question 6 of 9) Now consider than an unexpected viral outbreak led to consumers ensuring that much more surfaces (counter tops, door handles, etc.) are clean and sanitized. At the same time, the government's demand for sanitizing wipes at various public institutions (hospitals, schools, etc.) has impacted the supply of sanitizing wipes in the retail market. Although the government is neither a buyer nor seller in the retail market, their requests for sanitizing wipes does affect how many sanitizing wipes firms are able to supply in the retail market. The market for sanitizing wipes adjusts afterwards and the market is in equilibrium. Suppose that after the market for sanitizing wipes adjusts, the market equations are determined. Which of the equations would likely represent the new demand and supply equations? (complete the sentence below) After the adjustment in the market for sanitizing wipes, the equation representing the demand curve is likely to be ~ while the equation representing the supply curve is likely to be P =4.80 + 0.01Q P =6.40 + 0.01Q P =8.80+0.01Q P =8.60 - 0.04Q P =10.60 - 0.04Q P =12.80-0.04Q estion will save this response. Question 7 ' 2 points Save Answer Consider that the retail market for sanitizing wipes in a small locale is described by the follow demand and supply equations respectively: P = 10.60 0.04Q and P = 6.40 + 0.01Q where P is the pricer?llars and Qis the quantity measured in thousands per week. The market is currently in equilibrium. (Question 7 of 9) Now consider than an unexpected viral outbreak led to consumers ensuring that much more surfaces (counter tops, door handles, etc.) are clean and sanitized. At the same time, the government's demand for sanitizing wipes at various public institutions (hospitals, schools, etc.) has impacted the supply of sanitizing wipes in the retail market. Although the government is neither a buyer nor seller in the retail market, their requests for sanitizing wipes does affect how many sanitizing wipes firms are able to supply in the retail market. The market for sanitizing wipes adjusts afterwards and the market is in equilibrium. Suppose that after the market for sanitizing wipes adjusts, the market equations are determined. What is the current market price for sanitizing wipes? (report your answer at two decimal places in dollars) /i\\, Moving to another question will save this response. \" Question 9 10 points Save Answer Consider that the retail market for sanitizing wipes in a small locale is described by the follow demand and supply equations respectively: P = 10.60 0.04Q and P = 6.40 + 0.01Q where P is the price in dollars and Q is the quantity measured in thousands per week. The market is currently in equilibrium. (Question 9 of 9) Now consider than an unexpected viral outbreak led to consumers ensuring that much more surfaces (counter tops, door handles, etc.) are clean and sanitized. At the same time, the government's demand for sanitizing wipes at various public institutions (hospitals, schools, etc.) has impacted the supply of sanitizing wipes in the retail market. Although the government is neither a buyer nor seller in the retail market, their requests for sanitizing wipes does affect how many sanitizing wipes firms are able to supply in the retail market. The market for sanitizing wipes adjusts afterwards and the market is in equilibrium. Suppose that after the market for sanitizing wipes adjusts, the market equations are determined and the market clears. What can be said about the current market outcome? (complete the sentence below) At the current market price, the retail market for sanitizing wipes is v, and the quantity traded is v 84 thousand per week. Additionally, consumers surplus is v what it was before the unexpected viral outbreak, and producers surplus v what it was before the unexpected vial outbreak. As a result, the current total surplus in the retail market for sanitizing wipes 76.4 thousand dollars. L EhI equal to greater than in equilibrium A\\ Click Submit to comple i