Consider the market for ice cream cones. Suppose that supply in this market is given by P^S =  Q^S and demand is given by P^D = 30 - 4Q^D. Answer the following question. Compute consumer surplus, producer surplus, and government surplus in the market for ice cream cones with and without the $1.00 per ice cream cone tax. Compute the deadweight loss created by the tax.

The table shows the demand and supply schedules for apples. Suppose that the government introduces a production quota for apples and sets it at 3,750 pounds per week. What are the market price of apples, the producer surplus, and the deadweight loss created? The market price of apples is $a pound. The producer surplus is $. >>> Answer to two decimal places. The deadweight loss is $. Price (dollars per pound) 1.25 2.50 3.75 5.00 6.25 7.50 Quantity demanded (pounds per week) 5,625 5,000 4,375 Quantity supplied 3,750 3,125 2,500 0 1,250 2,500 3,750 5,000 6,250

Consider a competitive market with demand equal to Q=1,200-10P and supply equal to Q=2OP. a. What is the value of consumer surplus, producer surplus, and total surplus at equilibrium? b. Suppose the government introduces a price ceiling of P=$25. What impact does this have on consumer surplus, producer surplus, and total surplus relative to the competitive equilibrium outcome?

Consider the market for commercial fans. The following graph shows the demand and supply for commercial fans before the government imposes any taxes.   First, use the black point (plus symbol) to indicate the equilibrium price and quantity of commercial fans in the absence of a tax. Then use the green point (triangle symbol) to shade the area representing total consumer surplus (CS) at the equilibrium price. Next, use the purple point (diamond symbol) to shade the area representing total producer surplus (PS) at the equilibrium price. Suppose the government imposes an excise tax on commercial fans. The black line on the following graph shows the tax wedge created by a tax of $50 per fan.   First, use the tan quadrilateral (dash symbols) to shade the area representing tax revenue. Next, use the green point (triangle symbol) to shade the area representing total consumer surplus after the tax. Then, use the purple point (diamond symbol) to shade the area representing total producer…

Consider the market for mountain bikes. The following graph shows the demand and supply for mountain bikes before the government imposes any taxes. First, use the black point (plus symbol) to indicate the equilibrium price and quantity of mountain bikes in the absence of a tax. Then use the green point (triangle symbol) to shade the area representing total consumer surplus (CS) at the equilibrium price. Next, use the purple point (diamond symbol) to shade the area representing total producer surplus (PS) at the equilibrium price.   (screen shot 1)   Suppose the government imposes an excise tax on mountain bikes. The black line on the following graph shows the tax wedge created by a tax of $80 per bike. First, use the tan quadrilateral (dash symbols) to shade the area representing tax revenue. Next, use the green point (triangle symbol) to shade the area representing total consumer surplus after the tax. Then, use the purple point (diamond symbol) to shade the area…

Explain why the imposition of the price ceiling does not result in a deadweight loss.