Hi,
Plase help me with the problem and show work for undertanding thank you
3a. You are told the initial value of the variable, and the percentage change. For each, compute the new
value of the variable. Show your work!
Initial Value Percentage Change New Value
100 12%
50 8%
9.
3b.Describe what will happen in the market in the following situations.. Will there be a
shortage or excess? A deadweight loss? if so, calculate the amounts.
a. the government establishes a price ceiling of $30 per bushel of wheat.
b. the government establishes a price ceiling of $10.
c. the government establishes a price floor of $30.
d. the government establishes a price floor of $10.
e. price and quantity in the market compared to the desired equilibrium? Identify an example of a price
floor.