Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
Could someone please work 2-5 and explain the answers to me. This is so confusing.
Use the graph below to answer questions I through 5 :PriceSupply$ 4ESCSDemand5060 65 70 80QuantityIn the absence of any government restrictions , market forces will result in a price of1 .; at this price , the quantity exchanged is equal to2 .$4; 50b .$3: 50$3: 65$2 ; 80`If there is a price floor of $ 4 in this market , there will be :” Thing.`2 .no effect on quantity because this is not a binding floor .” “| | |^ ^`^d .a decrease in demand and an increase in supply .a market surplus of 20 .a market shortage of 20 .3 .If there is a price floor of $2 in this market , there will be :no effect on quantity because this is not a binding floor .d .a decrease in demand and an increase in supplyC .a market surplus of 20 .d .a market shortage of 20 .4.If there is a price ceiling of $ 2 in this market , there will be :no effect on quantity because this is not a binding ceiling .an increase in demand and a decrease in supply .a market surplus of 20 .d.a market shortage of 205 .If the price ceiling of $ 2 is removed , market forces will cause the price to :”a .increase to $3 , which will cause quantity demanded to rise and quantity suppliedto fall .B.increase to $3 , which will cause quantity demanded to fall and quantity suppliedto rise .stay at $ 2 because sellers prefer to have a surplus .C .stay at $2 because sellers prefer to have a shortage .
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