1. Using Microsoft Excel, draw a graph illustrating the supply and demand in this market. 2. What...

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 gauging 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 usingtextboxes. 

Transcribed Image Text:

antitv Supplied Price/Computer S200 175 150 125 100 75 50 25 ntity Demanded 1000 1250 1500 1750 2000 2250 2500 2750 2200 2050 1900 1750 1600 1450 1300 1150