The following diagram shows the aggregate expenditure schedule for the economy and the equilibrium condition on the 45 degree line. Round all answers to the nearest whole number. (36, 34) 287 4 20-D AE C +1+ X -IM 167 12 Y = AE K H J 12 15 18 21 24 27 30 33 36 39 Real GDP and Income(Figure: Market for Sustainable Furniture) The graph depicts the market for furniture made from sustainable, man-made forests. The government wants to encourage buyers to buy such furniture and imposes a price ceiling of $250. What occurs as a result of the price ceiling? Price ($ per piece of furniture) Supply 5350 5.250 Demand 306 500 700 Quantity of fumiture prices thousands O a surplus of 300,000 pieces of furniture. O a shortage of 200,000 pieces of furniture. O a surplus of 400,000 pieces of furniture. O a shortage of 400,000 pieces of furniture.Homer is a doughnut aficionado. Whether it be Krispy Kreme originals, Dunkin' Donuts sprinkled, Shirley's cream filled, or Gourdough's fried chicken doughnut, Homer loves 50 them all the same. Suppose Springfield, Homer's hometown, 45 decides to impose an excise (sales) tax on consumers of 4.0 $0.50 on each doughnut purchased. Demand 3.5 On the graph, please shift the appropriate curve to show the 30 new equilibrium point after the tax gets put into effect. Price per doughnut (S) 2.5 What is the revenue generated from this excise tax? Round 2.0 to the nearest whole number. Supply 1.5 1.0 excise tax revenue: $ 0.5 0.0 100 200 300 400 500 600 700 600 900 1,000 Quantity of doughnuts