8
10
16
12
8
10
16
12
6; 2; surplus of 4 units
2; 6; shortage of 8 units
2; 4; surplus of 2 units
4; 2; shortage of 2 units
Excess supply of 2 units.
Excess demand of 4 units.
surplus of 4 units.
Shortage of 6 units.
$1 and 4 units.
$4 and 8 units.
$2 and 4 units.
$3 and 6 units.
Lower prices.
Higher prices.
Surpluses.
Unexploited gains from trade.
lower prices.
Higher prices.
Stable prices.
Unexploited gains from trade.
Shortage of 10 units.
shortage of 35 units.
Surplus of 10 units.
Surplus of 45 units.
Shortage of 10 units.
Shortage of 45 units.
Surplus of 10 units.
Surplus of 35 units.
$12
$14
$16
$18
$12
$14
$16
$18
$10
$12
$14
$16
Stabilization.
Ceiling.
Support.
Floor.
Surplus; below the equilibrium price
Surplus; above the equilibrium price
Shortage; below the equilibrium price
Shortage; above the equilibrium price
290 units
310 units
270 units
40 units
Shortage of 270 units. shortage of 270 units.
Shortage of 40 units.
Surplus of 270 units.
Surplus of 40 units.
Shortage of 50 units.
Surplus of 40 units.
shortage of 0 units.
surplus of 20 units.
A price ceiling of $10
A price floor of $10
A price ceiling of $6
A price floor of $6
surplus of 20 units.
Surplus of 10 units.
Shortage of 20 units.
Shortage of 10 units.
Binding price ceiling.
Binding price floor.
Nonbinding price ceiling.
nonbinding price floor
Binding price ceiling.
Binding price floor.
Nonbinding price ceiling.
Nonbinding price floor.
Shift downward by the amount of the tax.
Shift upward by the amount of the tax.
Shift downward by less than the amount of the tax.
Not shift since sellers collect per-unit taxes.
Increase the size of the popcorn market.
Reduce the size of the popcorn market.
May increase, decrease, or have no effect on the size of the popcorn market.
have no effect on the size of the popcorn market.