Suppose a price floor of $7 is imposed on this market. As a result, a. buyers’ total expenditure on the good decreases by $20. b. the supply curve shifts to the left so as to now pass through the point (quantity = 40, price = $7). c. the quantity of the good demanded decreases by 20 units. d. the price of the good continues to serve as the rationing mechanism.

The number of members f(x) in a local swimming club increased by 30% every year over a period of x years. the function below shows the relationship between f(x) and x: f(x) = 10(1.3)xwhich of the following graphs best represents the function? graph of f of x equals 1.3 multiplied by 10 to the power of x graph of exponential function going up from left to right in quadrant 1 through the point 0, 0 and continuing towards infinity graph of f of x equals 10 multiplied by 1.3 to the power of x graph of f of x equals 1.3 to the power of x