Question
Given following hypothetical demand schedule: Quantity Supplied Quantity Demanded $10 100 400 $20 200 300 $30...
Given following hypothetical demand schedule: Quantity Supplied Quantity Demanded $10 100 400 $20 200 300 $30 300 200 100 1. Graph the demand and supply curves.
What is the equilibrium price and the equilibrium quantity? (label the equilibrium price and equilibrium quamtity). Using the graph shown, analyze the effect of a S40 price floor would have on this market. Show this on your graph
Homework Answers
Answer #1
| Price | quantity supplied | quantity demanded |
| $10 | 100 | 400 |
| $20 | 200 | 300 |
| $30 | 300 | 200 |
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