Table 6-1 The following table contains the demand schedule and supply schedule for a market for a particular good. Suppose sellers of the good successfully lobby Congress to impose a price floor $2 above the equilibrium price in this market. Price (Dollars per unit) Quantity Demanded (Units) Quantity Supplied (Units) 0 15 0 1 13 3 2 11 6 3 9 9 4 7 12 5 5 15 6 3 18 Refer to Table 6-1. How many units of the good are purchased after the imposition of the price floor? a. 10 b. 5 c. 15 d. 9

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Chapter6: Supply, Demand And Government Policies
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Table 6-1

The following table contains the demand schedule and supply schedule for a market for a particular good. Suppose sellers of the good successfully lobby Congress to impose a price floor $2 above the equilibrium price in this market.

Price

(Dollars per unit)

Quantity Demanded

(Units)

Quantity Supplied

(Units)

0 15 0
1 13 3
2 11 6
3 9 9
4 7 12
5 5 15
6 3 18
 

Refer to Table 6-1. How many units of the good are purchased after the imposition of the price floor?

  a. 10  
  b. 5  
  c. 15  
  d. 9  
 
 
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