Supply, Demand, and
Government in the Markets
Hey
I have another assignment that I need done details below: Can we do 30.00 for
them both?
A doctoral student has just completed a study for her
dissertation and found the following demand and supply schedules for hand held
computers to be as follows:
|
Price/Computer
|
Quantity Demanded
|
Quantity Supplied
|
|
$200
|
1000
|
2200
|
|
175
|
1250
|
2050
|
|
150
|
1500
|
1900
|
|
125
|
1750
|
1750
|
|
100
|
2000
|
1600
|
|
75
|
2250
|
1450
|
|
50
|
2500
|
1300
|
|
25
|
2750
|
1150
|
Questions:
1. Using Microsoft Excel, draw
a graph illustrating the supply and demand in this market.
2. What is the equilibrium
Price and Quantity in the market?
3. Now suppose the government
imposes a special tax on these computers. Describe what would happen in this
market in terms of the supply and demand curve.
4. Disregard the new tax
in part three. Now assume that the government imposes a price ceiling of $100
in this market, as a result of protests of price gouging by the sellers. What
would happen to the price and quantity in this market?
5. Disregard the events of
part four. Assume that the manufacturers of this product lobby the government’s
lawmakers, in terms of this product being an essential for college students but
they are considering halting production due to the lack of profits. The
lawmakers agree and now set a price floor at $150. What would happen in this market?
6. If consumers’ expectations
were such that they were concerned about the economy and jobs, what would you
think would happen in this market?
Compose your solutions to
this assignment in a report as a MS Word document.
This
assignment requires you to create a chart in Microsoft Excel. In order to
accomplish that, you will need to enter the data in an Excel worksheet, and
then use Excel to graph the data. Copy the graph from your Excel worksheet and
paste it into your MS Word document along with any explanations or discussion,
in-text citations if required, and reponses to the list of the questions asked
in this assignment
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