Assignment 3 Supply, Demand, & Government in the Markets

Jul 4th, 2015
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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.

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Assignment 3 Supply, Demand, & Government in the MarketsA 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/ComputerQuantity DemandedQuantity Supplied$200 1000220017512502050150150019001251750175010020001600752250145050250013002527501150Questions: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 th

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