36) The demand and supply equations for the peach market are…

36) The demand and supply equations for the peach market are:          Demand: P = 24 – 0.5Q               Supply:  P = -6 + 2.5Q                 where P = price per bushel, and Q = quantity (in thousands).   Calculate the equilibrium price and quantity. Suppose the government imposes a price floor of $24 per bushel. What would is quantity supplied? Provide a numerical value. At the price of $24 what is the quantity of peaches demanded? Provide a numerical value. Would there be a shortage or surplus of peaches? What is the size of this shortage or surplus? Provide a numerical value.

Figure 2-4 Refer to Figure 2-4. Consider the following eve…

Figure 2-4 Refer to Figure 2-4. Consider the following events: a decrease in the unemployment rate an increase in technology with respect to both food and plastic production a war that kills a significant portion of a nation’s population Which of the events listed above could cause a movement from W to Y?