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A) If a
B) If the price ceiling was still in effect at “Pc”, what area would represent the potential “black market” which could arise? What would be the price and quantity sold in the “black market”?
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- Plot the demand curve from the demand schedule information provided. (see uploaded image) (a) What can you explain from the graph? (b) Can you identify any determinants? (c) What happens if price changes? (d) What else do you think will happen? (e) What happens if other determinants change?The graph below shows the effect of a decrease in economic activity on themoney market using a graph. Please describe this graph in detail using 2-3 paragraphs.Graph the supply and demand curves and use the midpoint (averages) formula to calculate the respective price elasticities of supply and demand over the price range given. Then determine over what range of prices supply and demand are elastic, unit elastic, or inelastic. Es QS Price QD Ed 2400 14 0 2200 12 500 1900 10 1000 1500 8 1500 1000 6 2000 500 4 2500
- Consider a market for Lemonade. Please use the accompanying graph to answer following questions. P is the price of Lemonade and Q is the quantity of Lemonade. Please answer step by step follow question.Answer must be correct. Don,t copy from anywhere. Write proper answer. Answer follow image.Do all calculation step by step.If ten books are sold when the price is $80 and twenty books are sold when the price is $60. What is the equation for the demand and draw the graph!What is consumer srplus
