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\nVisit Below Link, To Download This Course:\n\nhttps://www.tutorialsservice.net/product/eco-202-m1-assignment-3-demand-and-supply/\n\nOr \nEmail us on\nSUPPORT@TUTORIALSSERVICE.NET\n\nECO 202 M1 Assignment 3 Demand and Supply\nECO202\nECO 202 M1 Assignment 3 Demand and Supply\nAssignment 3: Demand and Supply\nThe use of E-Books has increased in recent years, especially with the advent of mobile E-Readers. A marketing research firm recently developed the following supply and demand schedules for E-books:\n

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eco 202 m1 assignment 3 demand and supply

ECO 202 M1 ASSIGNMENT 3 DEMAND AND SUPPLY

Visit Below Link, To Download This Course:

https://www.tutorialsservice.net/product/eco-202-m1-assignment-3-demand-and-supply/

Or

Email us on

SUPPORT@TUTORIALSSERVICE.NET

ECO 202 M1 Assignment 3 Demand and Supply

ECO202

ECO 202 M1 Assignment 3 Demand and Supply

Assignment 3: Demand and Supply

The use of E-Books has increased in recent years, especially with the advent of mobile E-Readers. A

marketing research firm recently developed the following supply and demand schedules for E-books:

Price/E-Book

$18

16

14

12

10

9

8

7

6

5

4

2

Quantity Demanded

4000

5000

6000

7000

8000

9000

10000

11000

12000

13000

14000

15000

Quantity Supplied

10,000

9500

9000

8500

8000

7500

7000

6500

6000

5500

5000

4500

Assignment Guidelines:

Using Microsoft (MS) Excel, construct a graph showing supply and demand in the E-Book market based

on the data above. (Save this file because you will re-work it later in the assignment.) When finished,

copy and paste or import your graph into an MS Word document.

tutorials for working with ms excel and ms word

(Tutorials for working with MS Excel and MS Word can be found through the Tutoring Services and

Tutorials link at the top of the page.)

In your MS Word document, below your imported graph, respond to the following:

1. Explain how the Laws of Supply and Demand are illustrated in this graph.

2. Describe the equilibrium price and quantity in this market.

3. Assume that the government imposes a price floor of $12 in the E-Book market. Explain what

would happen in this market.

4. Assume that the price floor is removed and a price ceiling is imposed at $6. Explain what would

happen in this market.

5. Now, assume that the price of E-Readers (used with E-Books) drops from $60 by fifty percent.

How would this change impact the demand for E-Books? Explain your answer. Then, reconstruct

your original graph to show this change and place it in your MS Word document below your

explanation.