Refer to the above table. If the government implemented a price control at $20 which of the following is true?

In Camarillo, if the equilibrium price of cooking oil is $5.90 per pound, and if the government adopts a price floor for cooking oil at $6.15 per pound, what will happen?

The island nation of Coconutistan recently suffered an unfortunate accident which took its water treatment plant offline, leaving residents without clean water in their homes. The plant for bottling water was unaffected by the accident. The graph shows the supply and demand for bottled water before the accident. Assume that $6 is the maximum price for a case of bottled water according to the price gouging laws on the island. Shift one or more curves to show the effect of the accident on the market for bottled  water. Price ($)Quantity of bottled water by the case01002003004005006007008009001,000012345678910SupplyDemandPrice ceiling What is the amount of the shortage after the accident? shortage:

Below, you are provided with the demand and supply schedules for jars of peanut butter. You will use this information to analyze the effect of a price ceiling on the price of a jar of peanut butter, and to identify whether the price ceiling leads to a shortage or a surplus of peanut butter.   Price      Jars of Peanut Butter Demanded     Jars of Peanut Butter Supplied $2.00                               2,500                                           1,000                          $2.50                                   2,250                                          1,250                                        $3.00                                   2,000                                          1,500                     $3.50                                1,750                                        1,750      $4.00                              1,500                                         2,000      Part 10 : Complete the statement below.  When a price ceiling is imposed…

Suppose that the government establishes a price ceiling of $3.70 for wheat. What might prompt the government to establish this price ceiling?

Q13

Question 12 The equilibrium price of a good is $4 with no price controls.  The price of the good would continue to serve as the rationing mechanism (i.e., the control would not be "binding") if Group of answer choices a price floor of $5 is imposed. All of the above are correct. a price ceiling of $3 is imposed. a price ceiling of $5 is imposed.

Let the supply and demand for coffee be given by the following schedule. Price:             3,  4,  5,  6,  7,  8,  9,  10,  11 Quantity Supplied:          100,  200,  300,  400,  500,  600,  700,  800,  900 Quantity Demanded:        900,  800,  700,  600,  500,  400,  300,  200,  100 After heavy lobbying by coffee-addicted econ instructors, the government decides to impose a price ceiling on coffee at $5.   (All answers are integers, no units. ) 1. What quantity of coffee is efficient? 2. What quantity will be traded with the price ceiling?  3. Assume that coffee is rationed by waiting in line.  If all buyers have a value of time equal to $0.20 per minute, how long will they need to wait in line to get coffee (in minutes)?  4. What is the total cost of waiting in line?

Please explain using demand and supply graphs to determine equilibrium price and quantity, or surplus and shortages