With all variables at their baseline values:_1) What's the equilibrium price of spaghetti?2) What's the equilibrium quantity of spaghetti?Change the level of income to $27,000.3) What's the new equilibrium price of spaghetti?4) What's the new equilibrium quantity of spaghetti?5) Is spaghetti normal or inferior here?"Set all variables to their baseline values. Set the price of spaghetti to its equilibrium level. Nowthe price of tacos falls to $3.6) At the current price of spaghetti, supply changes by...7) At the current price of spaghetti, demand changes by...When the price of tacos falls to $3 (as in the last question),8) What's the new equilibrium price of spaghetti?9) What's the new equilibrium quantity of spaghetti?Set all variables to their baseline values. Set the price of spaghetti to its equilibrium level. Thewage rises to $7.50 an hour.10) At the current price of spaghetti, supply changes by...11) At the current price of spaghetti, demand changes by...When the wage rises to $7.50 (as in the last question),12) What's the new equilibrium price of spaghetti?13) What's the new equilibrium quantity of spaghetti?Set all variables to their baseline values. A tax of $4.00 per plate is put on all spaghetti sales.14) What's the new equilibrium price of spaghetti?15) What's the new equilibrium quantity of spaghetti?For the $4.00 tax per plate in the last question:16) The tax of $4.00 caused an increase in price of how much?17) What is the government's total tax revenue from its spaghetti tax?Set all variables to their baseline values. Set the price of spaghetti to its equilibrium level.Government grants a subsidy of $3 per plate.18) What's the change in price due to the subsidy?19) Continuing on from the last question, what's the change in quantity due to thesubsidy?20) Continuing on from the last question, what's the total cost of the subsidy to thegovernment?

price supply 30 MARKET DATA 25 demand Price of spaghetti $15.00 Quantity demanded 1515 20 Quantity supplied 4067 15 Excess demand -2552 10 DEMAND DATA 8 Income $20,000 Price of tacos $6.00 O 0 2000 $20.00 4000 Price of wine 6000 8000 10000 1 - W N - O SUPPLY DATA quantity Price of sauce $3.00 Set baseline Price of labor $5.00 15 values Questions 3 & 4 Per unit tax $0.00 16 17 Print Go to answer 48 19 EQUILIBRIUM ANSWER SHEET ANSWER BIN