13. Given a graph like the one below, identify what would occur if a price ceiling of $1.50 were introduced . Would there be a shortage /surplus? How much? What would be the quantity traded? ( 3 marks) $5 4 3 Price 2 1 D 0 100500600 200 300 400 Quantity per month 14. Given a graph like the one above, identify what would occur if a price floor were set $1 above the equilibrium price. Would there be a shortage/surplus? How much ? What would be the quantity traded ? (3 marks) 15. Given a graph like the one above, identify what would occur if a quota of 200 units were introduced. What would be the price & quantity traded? (2 marks) 16. Given a graph like the one above, what would happen if a $1.25 tax were introduced? What would be the price and quantity traded? (2 marks) 17. Given a graph like the one above, what would happen if a $1.25 subsidy were introduced? What would be the price and quantity traded? (2 marks)

3. Given a graph like the one below, identify what would occur if a price ceiling of $1.50 were introduced. Would there be a shortage/surplus? How much? What would be the quantity traded? (3 marks) $5 S 4 W Price 2 1 D 0 100 200 300 400 500 600 Quantity per month