Business, 22.07.2020 02:01 jsharma57p7enrw
The market for packs of AA batteries during a typical week in Tulsa, Oklahoma is described in the table below.
a. During a typical week in Tulsa, Oklahoma, what are the initial equilibrium price and quantity in the market for packs of AA batteries?
P$=
Q packs=
In weeks when tornadoes threaten Tulsa, Oklahoma, the demand for packs of AA batteries increases as shown in the table below.
b. What are the equilibrium price and quantity of AA batteries in a week with a tornado threat?
P$=
Q packs=
Suppose that city leaders want to prevent the price of AA batteries from rising when tornadoes threaten Tulsa, Oklahoma. They impose a price ceiling of $10 for packages of AA batteries.
c. This price ceiling of $10 per pack will not impact will impact the AA battery market during a typical week.
d. What are the quantity demanded and quantity supplied with the price ceiling in effect during the weeks when tornadoes threaten Tulsa?
Qd packs=
Qs packs=
e. As a result of the price ceiling:
Answers: 1
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