ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question 39
Price
18
16
14
12
10
8
6
4
2
0
0
I
I
I
I
I
I
1
5 10
Market for Computer Games
I
I
I
I
15
I
I
I
20 25
I
15
30
There is no surplus quantity
45
30
I
I
I
35 40
Quantity
I
I
I
45
I
I
I
I
I
I
I
50 55 60
I
I
65 70 75
S
Consider the market for computer games in the graph above. The quantity supplied
decreases by 15 games at each price as a result of an increase in input costs. After
the supply decreases, the government sets a price floor at $12 per game. What is
the resulting surplus quantity from this policy (considering the new supply curve)?
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Transcribed Image Text:Question 39 Price 18 16 14 12 10 8 6 4 2 0 0 I I I I I I 1 5 10 Market for Computer Games I I I I 15 I I I 20 25 I 15 30 There is no surplus quantity 45 30 I I I 35 40 Quantity I I I 45 I I I I I I I 50 55 60 I I 65 70 75 S Consider the market for computer games in the graph above. The quantity supplied decreases by 15 games at each price as a result of an increase in input costs. After the supply decreases, the government sets a price floor at $12 per game. What is the resulting surplus quantity from this policy (considering the new supply curve)?
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