Suppose that the demand curve for wheat is

Q equals 120 minus 10 p

Q=12010p

and the supply curve is

Upper Q equals 10 p

Q=10p.

The government imposes a price ceiling of p overbar equals $ 4

p=$4 per unit.

a. How do the equilibrium price and quantitychange?(round quantities to the nearest integer and round prices to the nearestpenny)

The equilibrium quantity without the price ceiling is

nothing

and the price without the price ceiling is $

nothing

.

The equilibrium quantity with the price ceiling is

nothing

.