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The use of E-Books has increased in recent years, especially with the advent of mobile E-Readers. A marketing research firm recently developed the following supply and demand schedules for E-books: Price/E-Book Quantity Demanded Quantity Supplied $18 4000 10,000 16 5000 9500 14 6000 9000 12 7000 8500 10 8000 8000 9 9000 7500 8 10000 7000 7 11000 6500 6 12000 6000 5 13000 5500 4 14000 5000 2 15000 4500 Assignment Guidelines: Using Microsoft (MS) Excel, construct a graph showing supply and demand in the E-Book market based on the data above. When finished, copy and paste into an MS Word document. In your MS Word document, below your imported graph, respond to the following: Explain how the Laws of Supply and Demand are illustrated in this graph. Define equilibrium. What is the equilibrium price and quantity in this market? Assume that the government imposes a price floor of $12 in the E-Book market. Explain what would happen in this market. Assume that the price floor is removed and a price ceiling is imposed at $6. Explain what would happen in this market. 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. Format your paper using the proper APA guidelines.
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