Can you accurately answer these, please? show detailed human working out. Section C5. In response to lobbying by the skateboard manufacturers, the government places a pricefloor of $700 on skate boards. Use the following supply and demand schedules forskateboards in Table 5.1 to answer the questions below.Table 5.1Price ($)Quantity DemandedQuantity Supplied300603040055405005050600456070040708003580a. Use the information provided in Table 5.1, to plot the supply and demand curve forskateboards.b. Using the answer from question 6, show the price floor in the diagram.c. What impact would be if the government reconsidered and introduced a priceceiling of $550?

a. Plot the supply and demand curve. To plot the supply and demand curve, create an axis that…

Answered: Section C 5. In response to lobbying by…

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter6: Supply, Demand And Government Policies

Section: Chapter Questions

Problem 3PA

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Say that a certain stadium for professional football has 70,000 seals. What is the shape of the supply curve for tickets to football games at that stadium? Explain.
Using the table below answer the following question Price Quantity demanded Quantity supplied $300 60 30 $400 55 40 $500 50 50 $600 45 60 $700 40 70 $800 35 80 In response, to lobbying by the skate board association, the government places aprice ceiling at the price of $700 on skate boards. What will this have on the marketfor skate boards? Explain your answer
The Unique Gifts catalog lists a "super loud and vibrating alarm clock." Their records indicate the following information on the relation of monthly supply and demand quantities to the price of the clock. Demand Supply Price 167 132 $32 137 172 $56 Use this information to find the following. (b) the demand equation p (c) the supply equation p (d) the equilibrium quantity and price
Using the table below answer the following question Price Quantity demanded Quantity supplied $300 60 30 $400 55 40 $500 50 50 $600 45 60 $700 40 70 $800 35 80 In response, to lobbying by the skate board association, the government places aprice ceiling of $400 on skate boards. Use the information provided in Table toplot the supply and demand curve for skate boards.
Section C 5. In response to lobbying by the skateboard manufacturers, the government places a price floor of $700 on skate boards. Use the following supply and demand schedules for skateboards in Table 5.1 to answer the questions below. Table 5.1 Price ($) Quantity Demanded Quantity Supplied 300 60 30 400 55 40 500 50 50 600 45 60 700 40 70 800 35 80 a. Use the information provided in Table 5.1, to plot the supply and demand curve for skateboards. b. Using the answer from question 5a, show the price floor in the diagram. c. What would be the impact if the government reconsidered and introduced a price ceiling of $5502
2
B. Calculate for the demand and supply equation
not use ai please
Please help with the calculation for total revenue in part C please show how was calcualted thankyou
QUESTION 4 Use the following supply and demand schedules for skate boards in table 18.1, to answer the questions 18(a). to 18(d) below. Table 18.1 Price ($) 300 Quantity Demanded Quantity Supplied 60 30 400 55 40 500 50 50 600 45 60 700 40 70 800 35 80 a. In response, to lobbying by the skate board association, the government places a price ceiling at the price of $700 on skate boards. What will this have on the market for skate boards? Explain your answer. b. In response, to lobbying by the skate board association, the government places a price ceiling of $400 on skate boards. Use the information provided in Table 18.1, to plot the supply and demand curve for skate boards. c. Use the information provided in Table 18.1, to plot the price ceiling of $400 on skateboards. d. What will be the result of a price ceiling of $400 on skate boards?
What are the equilibrium price and quantity of sweet packs? If sweets were 50 cents a bag, describe the situation in the market for sweets and explain what would happen to the price of a pack of sweets. Use the above data to draw a graph with the cocrrect labelling. Explain what is price elasticity of demand and why it would be important for producers to know the price of elasticity of their product and how would it affect their decision making?
ges Table Illustrations Add-ins Media Links Comment Header & Text Symbols Footer 7 b_Kad 2.xlsx Price 10t Supply 6 3+.... Demand Shots 60 120 160 210 300 Quantity 27. Refer to the graph above. With an effective price ceiling at $3, the quantity supplied: A) falls from 210 to 120. B) falls from 120 to 60. C) increases from 120 to 210. D) increases from 60 to 120. la_Kac II_2 28. Refer to the graph above. With the effective price ceiling the quantity bought is: A) 60 B) 210 c) 160 d) 120 29. Refer to the graph above. With the effective price ceiling at $3, total consumer surplus will be: A) $240 B) $360 d) S300 d) $150 ductio Shot 7.01 PM

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