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(solution)- Assignment 3: Supply, Demand, & Government in the Markets A doctoral student has just completed a study for her dissertation and...


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The Question

Assignment 3: Supply, Demand, & Government in the Markets

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?

Present your analysis in Excel format. Enter non-numerical responses in the same worksheet using textboxes.



To review tutorials on using Microsoft Excel, please click on the tutorial link at the top of this page.

By Wednesday, January 8, 2014 deliver your assignment to the M1: Assignment 3 Dropbox.

Create the file with the following name: LastnameFirstInitial_M1A3.Excel.xls.

Assignment 3 Grading Criteria
Maximum Points
Correctly constructed the supply and demand graph.
12
Answered questions 2-5 correctly, 15 points each.
60
Answered question 6 correctly.
8
Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; displayed accurate spelling, grammar, and punctuation.
20
Total:
100
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Solution details

Solution #000155429

(solution)- Assignment 3: Supply, Demand, & Government in the Markets A doctoral student has just completed a study for her dissertation and....zip

Assignment 3 Supply Demand & Government in the Markets (NEW COURSE)A++++Tutorial Already Graded A++

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xx Using Microsoft Excel, draw x graph xxxxxxxxxxxx the supply xxx demand in this market.
Using Microsoft xxxxxx xxxx a graph xxxxxxxxxxxx xxx xxxxxx and xxxxxx in xxxx market.
xxxxxxxxxxxxxxQuantity Demandedxxxxxxxx Supplied
xxx1000xxxx
175xxxx 2050
xxxxxxx 1900
125xxxx xxxx
xxx xxxxxxxx
752250 xxxx
50xxxx 1300
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Question x

 

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xxxx is the xxxxxxxxxxx Price and xxxxxxxx in xxx xxxxxxx
The equilibrium xxxxx and quantity xx xxxx xxxxxx xx xxxxxxxxxx xxxx Demand, xxx xxx xxxxxx

 

 

Question 3

 

 

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xxx suppose the government xxxxxxx x special xxx xx these xxxxxxxxxx Describe xxxx xxxxx happen xx this xxxxxx in xxxxx of xxx xxxxxx and xxxxxx curve.
xxx suppose the government xxxxxxx x special xxx on these computers. xxxxxxxx xxxx would xxxxxx in this market xx xxxxx xx the xxxxxx and demand xxxxxx
xxxxxxxxxxxxxxQuantity Demandedxxxxxxxx xxxxxxxxxxxxx supplied + xxx tax
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175 xxxx 2050xxx
150xxxx xxxx xxx
xxx xxxx 1750xxx
xxx 2000 1600 200
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50 2500 xxxx xxx
xx 27501150 125
Supply x 100 tax has xxxxxx x xxxxxxxx xx xxx xxxxxx xxx demand xxxxx

 

 

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Disregard xxx xxx tax xx part three. Now xxxxxx that xxx xxxxxxxxxx imposes x price ceiling xx xxxx in xxxx market, as x xxxxxx xx protests of xxxxx gauging xx xxx xxxxxxxx xxxx would happen xx xxx price xxx quantity in xxxx market?
Price/Computer xxxxxxxx DemandedQuantity xxxxxxxx xxxxx

 

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This paper was answered on 19-Jul-2017

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