Home » Use the following information to answer the next five questions.Market for flat-screen TVs: Demand: Qd = 2,600 – 5P Supply: Qs = -1,000 + 10P 5.

# Use the following information to answer the next five questions.Market for flat-screen TVs: Demand: Qd = 2,600 – 5P Supply: Qs = -1,000 + 10P 5.

Use the following information to answer the next five questions.Market for flat-screen TVs: Demand: Qd = 2,600 – 5P Supply: Qs = -1,000 + 10P

5. What is the equilibrium quantity and equilibrium price for flat-screen TVs? a. Q*=240 and P*=1,400 b. Q*=140 and P*=114 c. Q*=24 and P*=100 d. Q*=1,400 and P*=240 e. Q*=1,600 and P*=200

6. What would be the quantity demanded if a price ceiling is set at \$150? a. 1,850 b. 240 c. 1,350 d. 260 e. 500

7. What would be the quantity demanded if a price floor is set at \$300? a. 1,100 b. 900 c. 200 d. 240 e. 2,000

8. What would be the quantity supplied if a price ceiling is set at \$400? a. 600 b. 240 c. 2,400 d. 0 e. 3,000

9. What would be the quantity demanded if a price floor is set at \$100? a. 2,100 b. 2,400 c. 0 d. 1,400 e. 700

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