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Use the information on the market for oranges in the following table to answer the questions (Quantities are given in crates per day). Price (per
Use the information on the market for oranges in the following table to answer the questions (Quantities are given in crates per day). Price (per crate) Quantity Demanded Quantity Supplied $10 130 20 $15 120 60 $20 110 110 $25 100 140 $30 90 180 $35 80 220A] What is the equilirbium price and quantity? The equilibrium quantity is crates per day and the equilibrium price is Eli . {Enter your responses as whole numbers.) B] How much revenue do orange producers receive when the market is in equilibrium? Orange producers receive 35 per day in revenue. {Enter your response as a whole number.) [2] Suppose the government decides to impose a price oor of $25 per crate. Assume that the government does not purchase any surplus oranges. Now how many crates of oranges will consumers purchase? Consumers will purchase crates per day. (Enter your response as a whole number.) D] How much revenue will orange producers receive? Orange producers will receive 1}} per day in revenue. {Enter your response as a whole number. }
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