Question 16 (4 points) Market demand is given as QD - 280 -4P. Market supply is given as Qs = 2P + 40. Which legally imposed price would constitute a binding price floor? $50 $40 $20 $10Question 17 (4 points) Price $204 18 --.4. 16 14 12 10 8 DAfter TEN 0 10 20 30 40 50 60 70 80 90 Quantity Refer to the figure above. What is the share of the tax burden per unit that sellers would pay? $8.00 $10.0 $6.00 $4.00Question 19 (4 points) The table below sets out the demand and supply schedules for college meals. Price Quantity Quantity (dollars per demanded supplied meal) (meals per week) 4 3,000 1,500 UI 2,750 2,000 2,500 2,500 J 2,250 3,000 2,000 3,500 If the college put a price ceiling on meals at $7 a meal, what is the price students pay for a meal? How many meals do they buy? The price of a meal is $7 per meal and students buy 2,250 meals per week. The price of a meal is $6 per meal and students buy 2,500 meals per week. 21 The price of a meal is $5 per meal and students buy 2,750 meals per week. The price of a meal is $8 per meal and students buy 2,000 meals per week. 24Question 20 (4 points) Suppose the cross-price elasticity of demand between DVDs at Amazon.com and DVDs at Rakuten.com is 3.5. Based on this information, predict what happens when Amazon.com lowers its DVD prices by 10 percent. The quantity of DVDs demanded on Rakuten.com will increase by 35 percent. The quantity of DVDs demanded on Amazon.com will increase by 35 percent. O The quantity of DVDs demanded on Rakuten.com will decrease by 35 percent. O The quantity of DVDs demanded on Amazon.com will decrease by 35 percent