what is the size of consumer surplus when a price ceiling of $5 is imposed? 20. what is the size of producer surplus when a price ceiling of $5 is imposed 21. what is the size of deadweight loss from a price ceiling of $5
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using the graph answer the following questions:
19. what is the size of
20. what is the size of
21. what is the size of
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- using the graph answer the following questions" 27. what is the size of consumer surplus when price floor of $9 is imposed 28. what is the size of producer surplus when price floor of $9 is imposed 29 what is the size of social surplus when price floor of $9 is imposedMacmillan Learning Suppose the graph depicts a hypothetical market for concert tickets at a local college venue. Because students are paying such high prices, a price ceiling of $40 per concert is being considered. Move the price ceiling line to correctly depict the price ceiling of $40. By how much does consumer surplus (CS) increase if the price ceiling is imposed? $ 250 Price (S) 100 90 80 70 60 50 40 30 20 10 0 0 Market for Concert Tickets Price ceiling 10 20 30 D Quantity (tickets) S 40 50 60 70 80 90 100Use the following information to answer questions 24 through 32: The graph below shows the supply and demand curves for beer. 12+ 11- 10 Demand 9P oor 8. 7. 6 5- 27 Supply 10 20 30 40 50 60 70 80 90 100 110 12 Quantity of beer 24. What is the size of consumer surplus when there is no government price control? 25. What is the size of producer surplus when there is no government price control? 26. What is the size of social surplus when there is no government price control? What is the size of deadweight loss when there is no government price control? 27. What is the size of consumer surplus when Price Floor of $9 is imposed? Price of beer
- USE TABLE #1: The calculation you used to find the producer surplus for the efficient market for electric automobiles is 1/2 x ($ ____________ - $__________ ) x ( _____ - ________ ). (Remember to use a comma, if a comma is needed and to include the decimal point and two numbers to the right of the decimal point).The diagram to the right shows a market in which a price floor of $3.00 per unit has been imposed. With the price floor, consumer surplus is $ numeric response using an integer), (enter a producer surplus is $ deadweight loss is $ and surplus transferred from consumers to producers is $ " CD Price 6.00- 5.50- 5.00- 4.50- 4.00- 3.50- 3.00- 2.50- 2.00- 1.50- 1.00- 0.50- 0.00- 0 5 Price floor D 10 15 20 25 30 35 40 Quantity (in thousands) 45 S 50The daily demand and supply curves for milk in the small town of Dairyville are as shown in the figure. Suppose the government imposes a price ceiling on milk of $5 per gallon. a. How many gallons of milk will be bought and sold each day after the imposition of the price ceiling? gallons per day b. What will be the excess demand for milk each day after the imposition of the price ceiling? gallons per day c. What will be consumer surplus after the imposition of the price ceiling? $ per day d. What will be producer surplus after the imposition of the price ceiling? $ per day e. What will be the loss in total economic surplus each day that results from the imposition of the price ceiling? $ per day
- Essay . What happens to producer surplus when a price ceiling (below the equilibrium price) is enacted? What happens to consumer surplus? Will there be a shortage or a surplus in the new equilibrium? What are the negative consequences of imposing price ceiling and price floor?In a supply-demand diagram: show how consumer surplus, producer surplus, and cost of production changes with no government regulation, after a price floor, and after a price ceiling. What consumer surplus is gained by consumers that is also producer surplus lost by producers? What consumer surplus is lost by consumers that is not gained by producers? What producer surplus is lost by producers that is not gained by consumers?Question 4: A government is planning to set a Price ceiling (Maximum price a producer can set). a) What is the consumer surplus and producer surplus at Equilibrium price? The government set a Price ceiling at $30 (in the diagram below). b) $90 Price i) ii) iii) $70 $50 $30 $10 10 20 30 Supply Price ceiling Demand Quantity What is the change in consumer surplus because of the price ceiling? What is the change in producer surplus because of the price ceiling? Who, the producer or the consumer, is benefitted from this government regulation?
- Use the graph below to answer the following question. If government placed a price ceiling of $2 on bottled water, producer surplus would be and deadweight loss would be Price $10 $9 nannXXX. $8. $7- $6- $5- $4 $3 $2. $1 $0 Demand and Supply 0 1 2 3 4 5 6 7 8 9 10 Quantity Quantity Demanded Quantity SuppliedSuppose the vertical distance between points S and R represents a tax in the market. Please answer the questions under the case of the tax. What area is the tax revenue to the government? What is the amount of the tax revenue? What area is the consumer surplus represented by? What is the amount of consumer surplus? What area is the producer surplus represented by? What is the amount of producer surplus? What area is the deadweight loss represented by? What is the amount of deadweight loss? What is the buyers’ share of tax burden? What is the sellers’ share of tax burden?The below graph shows a market where the government has imposed a price ceiling. For each of the following three questions, select the area(s) described after the ceiling is in place. Demand Supply B D Price ($) F H. Price Ceiling J M Quantity Which of the following is the consumer surplus? A+B+C v Which of the following is the producer surplus? What is the deadweight loss of the price ceiling? C+F
