Instructions: Under settings, click "Price Floor" to select it When it is selected, it will be highilighted in dark blue. a. What is the equilibrium price and quantity in the absence of an effective price floor? P=$ 25 units 0:20 b. What is the new price and quantity if a priçe floor is set at $6.00? P-$ 6Q- 20 units c. Is the price floor at $6.00 effective? Yes d. What is the new price and quantity if the price floor is set at $3.00? P-$ 5Q= 25 units e Is the price floor at $3.00 effective? No 1. When the price floor is effective, what happens to the quantity transacted in the market? Decreases

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