Table 4-12 A country club usually only allows members to pur…

Table 4-12 A country club usually only allows members to purchase tickets for its celebrity golf tournament, but the club is considering allowing non-members to purchase tickets this year. The demand and supply schedules are as follows: Price Quantity Demanded by Members Quantity Demanded by Non-members Quantity Supplied $10 1000 500 600 $15 800 400 600 $20 600 300 600 $25 400 200 600 $30 200 100 600 Refer to Table 4-12. If both members and non-members are allowed to purchase tickets to this year’s celebrity golf tournament and the country club sets the ticket price at $20, then there will be

Table 6-3 – The following table contains the demand schedule…

Table 6-3 – The following table contains the demand schedule and supply schedule for a market for a particular good. Suppose sellers of the good successfully lobby Congress to impose a price floor $5 in this market. Price Quantity Demanded Quantity Supplied $0 15 0 $1 13 3 $2 11 6 $3 9 9 $4 7 12 $5 5 15 $6 3 18 Refer to Table 6-3. How many units of the good are sold after the imposition of the price floor?