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Homework answers / question archive / supply curves and plot the information from the table on the graphs
supply curves and plot the information from the table on the graphs. Then answer the questions. Price Price Quantity demanded (bushels of oats) 10,000 15,000 20,000 25,000 30,000 35,000 $4.40 4.20 4.00 Quantity supplied (bushels of oats) 40,000 35,000 30,000 25,000 20,000 15,000 3.80 3.60 3.20 Find the equilibrium price and quantity for oats. If the government decided to set price ceiling of oats at $3.2 per bushel, tell whether there would be a surplus or shortage and how much it would be? you think government impose price ceiling on necessities such as pats? Evaluate the implication of this policy on the market. Why do
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