Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 17, Problem 5SPA
(a)
To determine
(b)
To determine
Optimum price of tuna.
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To protect the cod fishery off the northeast coast of the U.S., the federal government may limit the amount of fish that each boat can catch in the fishery. The result of this public policy is to
a. shift the cod demand curve to the left.
b. shift the cod demand curve to the right.
c. shift the cod supply curve to the right.
d. shift the cod supply curve to the left
Look at the tables below.
Person
Bob
Barb
Bill
Bart
Brent
Betty
$
Maximum Price
Willing to Pay
$17
14
13
12
11
10
Person
Carlos
Courtney
Chuck
Cindy
Craig
Chad
Instructions: Enter your answers as a whole number.
a. What is the total surplus if Bob buys a unit from Carlos?
$
b. What is the total surplus if Barb buys a unit from Courtney?
$
c. What is the total surplus if Bob buys a unit from Chad?
Minimum
Acceptable Price
$6
7
8
9
10
11
d. If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that
can be achieved?
Table 4-10
The following table shows the number of cases of water each seller is willing to sell at
the prices listed.
Price per case Alpine Springs Brook Mountain
$0.00
$3.00
$6.00
$9.00
0 cases
100 cases
200 cases
300 cases
0 cases
40 cases
80 cases
120 cases
Cascade Waters Dew Good
0 cases
60 cases
120 cases
180 cases
0 cases
100 cases
200 cases
300 cases
Chapter 17 Solutions
Macroeconomics
Ch. 17.1 - Prob. 1RQCh. 17.1 - Prob. 2RQCh. 17.2 - Prob. 1RQCh. 17.2 - Prob. 2RQCh. 17.2 - Prob. 3RQCh. 17.2 - Prob. 4RQCh. 17.3 - Prob. 1RQCh. 17.3 - Prob. 2RQCh. 17.3 - Prob. 3RQCh. 17.4 - Prob. 1RQ
Ch. 17.4 - Prob. 2RQCh. 17.4 - Prob. 3RQCh. 17.4 - Prob. 4RQCh. 17 - Prob. 1SPACh. 17 - Prob. 2SPACh. 17 - Prob. 3SPACh. 17 - Prob. 4SPACh. 17 - Prob. 5SPACh. 17 - Prob. 6SPACh. 17 - Prob. 7SPACh. 17 - Prob. 8SPACh. 17 - Prob. 9SPACh. 17 - Prob. 10APACh. 17 - Prob. 11APACh. 17 - Prob. 12APACh. 17 - Prob. 13APACh. 17 - Prob. 14APACh. 17 - Prob. 15APACh. 17 - Prob. 16APACh. 17 - Prob. 17APACh. 17 - Prob. 18APACh. 17 - Prob. 19APACh. 17 - Prob. 20APACh. 17 - Prob. 21APACh. 17 - Prob. 22APACh. 17 - Prob. 23APACh. 17 - Prob. 24APACh. 17 - Prob. 25APACh. 17 - Prob. 26APACh. 17 - Prob. 27APACh. 17 - Prob. 28APACh. 17 - Prob. 29APACh. 17 - Prob. 30APA
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