$50 Supply $40 $30 $20 Price $10 Ceiling Demand $0 40 80 120 160 200 Quantity In the market shown in the diagram above, the government has imposed a Price Ceiling at $10. The Consumer Surplus from the Price Ceiling would be Select one: а. $400 b. $800 c. $200 d. $1,000 Price
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- ut Figure 6-13 Price F1 Price 191-4 on this page 2 W F2 # (a) 3 (c) E 80 fer to Figure 6-13. In which market will the maiority of a tax be paid by the buyer? F3 Quantity $ 4 Quantity R Price F4 Price 5 0 F5 (b) (d) 6 D F6 Quantity D Quantity & 7 F7 8 DII F8A technology change shts the inverse eply function from 1+3y to p1+g verse demand is p21- Which of the following statements are te in epubrium 1 Producer surplua inoreases Gtion8 2 Consumer surplus increases 3 Ouantity doubles a None 1 and 2 C 12 and 3 d 1 and 3 Vour aner ie inconect The conect aswer 12 and 3 The government wanta to impose a $3 per unit tax on sugar to reduce sugar consumption. is known that tases wil result in a deadweight los Given the supply function is -3p. which of the folowing inverse demand function will result in the smalest deadweight loss? Guesti9 000 p out a Insufficient information to conclude p-700-24 p-1000-3y TUur answera inconecPDemand QDemand PSupply QSupply $10 0 $1 2 $9 3 $2 4 $8 6 $3 6 $7 9 $4 8 $6 12 $5 10 $5 15 $6 12 $4 18 $7 14 If the Government creates a quota of 6 units to reduce the consumption of the dangerous product, what will the price of the good be in the marketplace? How much deadweight loss is there? How much of the deadweight loss came from the consumers?
- 1. Price $152 $144 $136 $128 $120 $112 $104 $96 $88 $80 572 S64 $56 $48 $40 $32 CORNW 524 $16 $8 SO 0 25 50 75 100 1₁ 125 150 - - Supply 175 200 Quantity 225 Demand A. Calculate consumer surplus at the equilibrium price and quantity B. Calculate producer surplus at the equilibrium price and quantity D. Calculate total surplus at the equilibrium price and quantity D. Shade the area of the graph that corresponds to total surplus 250 275 300 325 350 375Saved Help Save&Exit Submit Quantity Supplied Quantity Price Demanded $6 300 $1 10 250 $2 50 180 $3 90 150 $4 120 120 $5 150 90 $6 180 50 Refer to Table 6.1, which gives the daily supply and demand schedules for cups of coffee at a kiosk in a shopping mall. If there is no tax placed on coffee, how many cups of coffee will be bought and sold? Multiple Choice 50 90 Next T47 F 24 of 67 < Prev T0/20/20 o search lp qim36 Social Cost 30 30 24 24 18 PRICE (Dollars per unit) 2 6 Supply Demand H 100 200 300 400 500 600 QUANTITY (Units of plastic) Refer to Figure 10-6. In order to reach the social optimum, the government could O impose a tax of $3 per unit on plastics. impose a tax of $9 per unit on plastics. O impose a tax of $12 per unit on plastics. Ooffer a subsidy of $9 per unit on plastics.
- Question 2h Gvem the folowing ndormation Q0-240-5P where QD is the quantity demanded, 05 is the quantity upplied and Pis the poo Suppose that the government decides to impose a tax of $12 per unit on sellers in tthe market Determne Deadwnght loss of the taxThe following graph shows the supply curve for a group of students looking to sell used statistics textbooks. Each student has only one used textbook to sell. Each rectangular segment under the supply curve represents the "cost," or minimum acceptable price, for one student. Assume that anyone who has a cost just equal to the market price is willing to sell his or her used textbook. (?) 430 190 Eleen ancy Susan 70 Raphael 1. QUANTITY (Ued lebeoka) Region A (the purple shaded area) represents the total producer surplus when the market price is , while Region B (the grey shaded area) represents * when the market price In the following table, indicate which statements are true or false based on the information provided on the previous graph. Statement True False Producer surplus is smaller when the price is $245 than when it is $175. Assuming each student receives a positive surplus, Susan will always receive more producer surplus than Alex. In order for Eileen to earn a producer surplus…Price ($) 20 16 12 - 8 4 0 Market for Guns and Butter album "Live at Saskatoon" 20 40 60 Quantity 80 100 120 S RGLOON1 a. Suppose that the album producers put it on sale for $6 each. How much will be the surplus There would be a (Click to select) of . A quantity of b. The maximum price at which the quantity actually sold in part (a) could have been sold is $ c. If the album producers had actually put the album on the market at the price mentioned in p would be albums will be sold.
- What is producer and consumer surplus AFTET tax?Suppose that the demand curve for wheat is Q500 - 10p and that the supply auve is O 10p What are the efects of a subnidy (negative tax) ofs4 per unit paid to produoers on the equlibrium, govemment. subsidy cost, consumer surplus (CS), producer surplus (PS), weifare (W, and deadweight loss (DWL)? Wih the subsidy, the equibrium price is Sand the equilibrium quantity isunits. (Enter your responses as whole numbers) The cost of the subsidy to the govermment is S (Enter your response as a whole number) The change in consumer surplus (ACS) is S (Enter your response as a whole number.) The change in producer surplus (APS) is S Enter your response as a whole number) The change in welttare (AW) is S (Enter your reaponse as a whole number and include a minus sign i necessary Deadweight loss is S (Ender your response as a whole number)20 Demand Supply 18 16 14 さ12 10 8. 12 14. 16 20 QUANTITY Which of the following statements is not correct? When the price is 510.quantity supplied equala quantity demanded. DWhen the price is 512.shere is a surplus of 4 units. 0When the price is S16.quantity supplled exceecs ouantity demanded by 1 units. When.the price ls S6 there is a surplus of8units. PRICE
