A recent study found that the demand and supply schedules for cheese are as follows. Price...

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A recent study found that the demand and supply schedules for cheese are as follows. Price per pound $21 $18 $15 $12 $9 $6 $3 a. Find the equilibrium price. b. Find the equilibrium quantity. Quantity demanded 100 pounds 120 pounds 150 pounds 190 pounds 240 pounds 300 pounds 360 pounds Quantity supplied 400 pounds 320 pounds 250 pounds 190 pounds 140 pounds 100 pounds 70 pounds Question 2 c. Refer to Table above. Buyers persuade the government to impose a price ceiling $6 below the equilibrium price. What is the new market price? Is there a shortage or surplus? Question 3 d. Refer to Table above. Sellers persuade the government to impose a price floor $6 above the equilibrium price. What is the new market price? Is there a shortage or surplus? A 3 pts 3 pts A recent study found that the demand and supply schedules for cheese are as follows. Price per pound $21 $18 $15 $12 $9 $6 $3 a. Find the equilibrium price. b. Find the equilibrium quantity. Quantity demanded 100 pounds 120 pounds 150 pounds 190 pounds 240 pounds 300 pounds 360 pounds Quantity supplied 400 pounds 320 pounds 250 pounds 190 pounds 140 pounds 100 pounds 70 pounds Question 2 c. Refer to Table above. Buyers persuade the government to impose a price ceiling $6 below the equilibrium price. What is the new market price? Is there a shortage or surplus? Question 3 d. Refer to Table above. Sellers persuade the government to impose a price floor $6 above the equilibrium price. What is the new market price? Is there a shortage or surplus? A 3 pts 3 pts

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