Multiple Choice
The supply and demand curves for a product are as follows. What is quantity supplied if a price ceiling of $4 is set?
QD = 600 – 100P
QS = -150 + 150P
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- 1. Introduction to Macroeconomics1h 57m
- 2. Introductory Economic Models59m
- 3. Supply and Demand3h 43m
- Introduction to Supply and Demand10m
- The Basics of Demand7m
- Individual Demand and Market Demand6m
- Shifting Demand44m
- The Basics of Supply3m
- Individual Supply and Market Supply6m
- Shifting Supply28m
- Big Daddy Shift Summary8m
- Supply and Demand Together: Equilibrium, Shortage, and Surplus10m
- Supply and Demand Together: One-sided Shifts22m
- Supply and Demand Together: Both Shift34m
- Supply and Demand: Quantitative Analysis40m
- 4. Elasticity2h 26m
- Percentage Change and Price Elasticity of Demand19m
- Elasticity and the Midpoint Method20m
- Price Elasticity of Demand on a Graph11m
- Determinants of Price Elasticity of Demand6m
- Total Revenue Test13m
- Total Revenue Along a Linear Demand Curve14m
- Income Elasticity of Demand23m
- Cross-Price Elasticity of Demand11m
- Price Elasticity of Supply12m
- Price Elasticity of Supply on a Graph3m
- Elasticity Summary9m
- 5. Consumer and Producer Surplus; Price Ceilings and Price Floors3h 40m
- Consumer Surplus and WIllingness to Pay33m
- Producer Surplus and Willingness to Sell26m
- Economic Surplus and Efficiency18m
- Quantitative Analysis of Consumer and Producer Surplus at Equilibrium28m
- Price Ceilings, Price Floors, and Black Markets38m
- Quantitative Analysis of Price Ceilings and Floors: Finding Points20m
- Quantitative Analysis of Price Ceilings and Floors: Finding Areas54m
- 6. Introduction to Taxes1h 25m
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- 8. The Types of Goods1h 13m
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- 11. Gross Domestic Product (GDP) and Consumer Price Index (CPI)1h 37m
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- The Financial Crisis of 2007-2009 (The Great Recession)10m
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- 21. Revisiting Inflation, Unemployment, and Policy46m
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- The Gold Standard4m
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- 24. Macroeconomic Schools of Thought40m
- 25. Dynamic AD/AS Model35m
- 26. Special Topics11m
5. Consumer and Producer Surplus; Price Ceilings and Price Floors
Quantitative Analysis of Price Ceilings and Floors: Finding Points
Multiple Choice
The supply and demand curves for a product are as follows. What is quantity demanded if a price floor of $21 is set?
QD = 45 – 2P
QS = -15 + P
A
2
B
3
C
4
D
5
E
6
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