Suppose market demand and supply are given by Q^d = 100 - 2P and Q^s = 5 + 3P. If the government sets a price floor of $30 and agrees to purchase all surplus at $30 per unit, the total cost to the governmentwill be:

Which of the folliwng is NOT a demand shifter?

the price of substitutes consumer income the level of advertising the price of complements the price of the good If steak is a normal good, then an increase in consumer income would result in an increase in the price of steak. True False