3. The supply and demand schedules below describe the market for compact fluorescent lightbulbs (CFLS). Same Supply Q now at higher price with tax (millions) 200 Price Demand Supply (millions) Price + (millions) tax $2.00 400 200 $2.50 350 250 250 $3.00 300 300 300 $3.50 250 350 350 $4.00 200 400 400 $4.50 150 450 450 $5.00 100 500 500 a. Graph the supply and demand curves, drawing them to scale. $3.50 250
3. The supply and demand schedules below describe the market for compact fluorescent lightbulbs (CFLS). Same Supply Q now at higher price with tax (millions) 200 Price Demand Supply (millions) Price + (millions) tax $2.00 400 200 $2.50 350 250 250 $3.00 300 300 300 $3.50 250 350 350 $4.00 200 400 400 $4.50 150 450 450 $5.00 100 500 500 a. Graph the supply and demand curves, drawing them to scale. $3.50 250
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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See the chart on the first picture to answer those two questions in second picture.
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