Question;Assignment 3: Demand and SupplyThe 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 Quantity demanded Quantity Supplied$18 4000 10,00016 5000 950014 6000 900012 7000 850010 8000 80009 9000 75008 10000 70007 11000 65006 12000 60005 13000 55004 14000 50002 15000 4500Assignment 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 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 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.Remember, quotations, paraphrases, and ideas you get from books, articles, or other sources of information should be cited using APA style. Help with citing sources can be found through the Academic Resources page under Course Home.
Paper#57683 | Written in 18-Jul-2015Price : $31