The use of E-Books has increased in recent years, especially with the advent of mobile E-Readers.\u00a0 A marketing research firm recently developed the following supply and demand schedules for E-books:\tPrice\/E-Book \ufffd Quantity Demanded \ufffd\u00a0 Quantity Supplied\t$18 \ufffd\u00a0\u00a0\u00a0 4000 \ufffd\u00a0 10,000\t16 \ufffd \ufffd 5000 \ufffd\u00a0 9500\t14 \ufffd \ufffd 6000 \ufffd\u00a0 9000\t12 \ufffd \ufffd 7000 \ufffd\u00a0 8500\t10 \ufffd \ufffd 8000 \ufffd\u00a0 8000\t9 \ufffd \ufffd\u00a0\u00a0\u00a0 9000 \ufffd\u00a0 7500\t8 \ufffd \ufffd\u00a0\u00a0\u00a0 10000\u00a0\u00a0\u00a0 7000\t7 \ufffd \ufffd\u00a0\u00a0\u00a0 11000\u00a0\u00a0\u00a0 6500\t6 \ufffd \ufffd\u00a0\u00a0\u00a0 12000\u00a0\u00a0\u00a0 6000\t5 \ufffd \ufffd\u00a0\u00a0\u00a0 13000\u00a0\u00a0\u00a0 5500\t4 \ufffd \ufffd\u00a0\u00a0\u00a0 14000\u00a0\u00a0\u00a0 5000\t2 \ufffd \ufffd\u00a0\u00a0\u00a0 15000\u00a0\u00a0\u00a0 4500\tAssignment Guidelines:\t\u00a0\tUsing 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.\t(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.)\t\u00a0\tIn your MS Word document, below your imported graph, respond to the following:\t1. \ufffd \ufffd\u00a0 Explain how the Laws of Supply and Demand are illustrated in this graph.\t2. \ufffd \ufffd\u00a0 Describe the equilibrium price and quantity in this market.\t3. \ufffd \ufffd\u00a0 Assume that the government imposes a price floor of $12 in the E-Book market. Explain what would happen in this market.\t4. \ufffd \ufffd\u00a0 Assume that the price floor is removed and a price ceiling is imposed at $6. Explain what would happen in this market.\t5. \ufffd \ufffd\u00a0 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.\u00a0\tRemember, 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
The use of E-Books has increased in recent years, especially with the advent of mobile E-Readers.\u00a0 A marketing research firm recently developed the following supply and demand schedules for E-books: Price\/E-Book \ufffd Quantity Demanded \ufffd\u00a0 Quantity Supplied $18 \ufffd\u00a0\u00a0\u00a0 4000 Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-210568","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/210568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=210568"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/210568\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=210568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=210568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=210568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}