Question: 1 the graph below represents the market for electric cars...
1. The graph below represents the market for electric cars. If a price floor is set at $92,000, calculate the surplus of cars that will result.
____ # of electric cars, please provide your explanation so that I can apply it to future problems.
2.) Government intervention of setting price controls impacts the __________________. As a result, when a price floor is set, a very likely outcome is a ______________ in the market.
market equilibrium; surplus
market equilibrium; shortage
supply schedule; surplus
demand schedule; shortage