Price ($) Quantity Demanded Quantity Supplied1 1000 200
2 900 300
3 800 400
4 700 500
5 600 600
6 500 700
7 400 800
8 300 900
Fill in the blanks to make the following statements correct.
a. The equilibrium price for straw hats is. The
equilibrium quantity demanded and quantity supplied is
.
b. Suppose the government believes that no islander should
have to pay more than $3 for a hat. The government can
achieve this by imposing a.