The table below represents the market for greeting cards. Suppose there is a price floor set at $6.00. Calculate the surplus caused by the price floor. Price Quantity Supplied Quantity Demanded $2.00 250 800 $3.00 375 650 $4.00 500 500 $5.00 680 430 $6.00 800 250

The table below represents the market for greeting cards. Suppose there is a price floor set at $6.00. Calculate the surplus caused by the price floor. Price Quantity Supplied Quantity Demanded $2.00 250 800 $3.00 375 650 $4.00 500 500 $5.00 680 430 $6.00 800 250

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter4: Markets In Action

Section: Chapter Questions

Problem 15SQ

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Question

The table below represents the market for greeting cards. Suppose there is a price
floor set at $6.00. Calculate the surplus caused by the price floor.
Price
Quantity Supplied
Quantity Demanded
$2.00
250
800
$3.00
375
650
$4.00
500
500
$5.00
680
430
$6.00
800
250

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