A recent study found that the demand-and-supply
schedules for Frisbees arc as follows:
a. Wha t arc the
Frisbees?
b. Frisbee manufacturers persuade the government
that Frisbee production improves scientists' understanding of aerodynamics and thus is import•
ant for national security. A concerned Congress
votes to impose a
many Frisbees arc sold 7
c. Irate college students marcl, on Washington and
demand a reduction in the price of Frisbees. An
even more concerned Congress vo tes to repeal the price floor and impose a
former price floor. Wha t is the new market price?
How man}' Frisbees arc sold?
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