Asap plzzz Given supply and demand quantities asfunctions of price:Supply: Qs = 30 + PDemand: Qd = 110 -PPlot the supply and demand curves in MSExcel :Find the market equilibrium price andquantity Find consumer and producersurplus Repeat the calculations for the caseof adding 30 SAR as a tax. What is thedeadweight loss after adding the tax.

The equilibrium will be determined at a point where the demand and supply curves intersect. After…

Answered: Plot the supply and demand curves in MS…

Principles of Macroeconomics (MindTap Course List)

7th Edition

ISBN:9781285165912

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 7PA

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In a market where the supply curve is perfectly inelastic how does an excise tax affect the price paid by consumers and the quantity bought and sold?
During a discussion several year; ago on building a pipeline to Alaska to carry natural gas, the U.S. Senate passed a bill stipulating mat there should be a guaranteed minimum price for the natural gas that would flow through line pipeline. The thinking behind the bill was that if private firms had a guaranteed price for their natural gas, they would be more willing to drill for gas and to pay to build the pipeline. Using the demand and supply framework, predict the effects of this price floor on fine price, quantity demanded, and quantity supplied. With the enactment of this price floor for natural gas, what are some of the likely unintended consequences in line market? Suggest some policies other than the price floor that he government can pursue if it wishes to encourage drilling for natural gas and fur a new pipeline in Alaska.

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Plot the supply and demand curves in MS Excel : Find the market equilibrium price and quantity Find consumer and producer surplus Repeat the calculations for the case of adding 30 SAR as a tax. What is the deadweight loss after adding the tax.