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Question: i have those two questions please help...

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The year is 1779 in Iceland. Light sources, such as oil lamps, are precious commodities (as harnessed electricity 4 is not yet available). The government wants to intervene in the pricing of oil lamps so that its citizens do not pay outrageous amounts of money for lighting. The currency used in Iceland at the time is the rigsdaler. Consider the graph depicting Icelands hypothetical supply and demand for oil lamps. 40 35 Demand 25 20 15 10 If Icelands governor chooses to set a price floor of 15 rigsdaler for an oil lamp, what will occur? 0 40 6 80 100 120 140 Quantity of oil lamps (housands) O O O ゜ Nothing will change. The equilibrium price of an oil lamp will change There will be a shortage of oil lamps. There will be a surplus of oil lamps. If Icelands governor chooses to set a price ceiling of 40 rigsdaler for an oil lamp, what will occur? about us careers privacy policy terms of use contact us | help

Resources G 03/3100 15 for oil lamps. 10 If Icelands governor chooses to set a price floor of 15 rigsdaler for an oil lamp, what will occur? 0 4o 60s 120 140 Quantity of oil lamps (thousands) O O 0 O Nothing will change The equilibrium price of an oil lamp will change There will be a shortage of oil lamps. There will be a surplus of oil lamps. If Icelands governor chooses to set a price ceiling of 40 rigsdaler for an oil lamp, what will occur? O Nothing will change. The equilibrium price of an oil lamp will change. O There will be a shortage of oil lamps o There will be a surplus of oil lamps. about us careers privacy policyterms of use |contact us help

i have those two questions please help

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