02 May Question: Hint: not all Letters on the Graph are used for answers! Yes -Iam trying to trick you. $P IW $100…
Hint: not all Letters on the Graph are used for answers! Yes -Iam trying to trick you. $P IW $100 $70 $60 $40 $20 0 50 75 100 125 160 175 Q Assume: Sellers put the Price for the angelfish, at $100. 1. What is the “effective” Quantity? 2. What is happening, at this Price? 3. How much of one? 4. Will the Price tend to rise or fall? 5. If this price is imposed by the government (legal force) what is this type of Price Control called?
At the off-equilibrium Price of $100, 6. What Area shows Total Revenue (Total Expenditures)? 7. What Area shows Total Cost (to Seller)? 8. What Area shows Total Maximum Value (to Buyer)? 9. What Area shows Profit (to Seller)? 10. What Area shows Consumer Surplus (to Buyer)? 11. What Area shows Social Surplus (total Trade Gains)? 12. What Area shows the Social Waste (lost trade-gains) due to the Price Control imposed by legal force on these traders? Now, assume: Sellers put the Price for the angelfish at $60. 13. What is the “effective” Quantity? 14. What is happening, at this Price? 15. How much of one? 16. Will this Price tend to rise or fall? 17. If imposed by government- what is this Price Control called? At the off-equilibrium Price of $60, 18. What Area shows Total Revenue (Total Expenditures)? 19. What Area shows Total Cost (to Seller)? 20. What Area shows Total Maximum Value (to Buyer)? 21. What Area shows Profit (to Seller)? 22. What Area shows Consumer Surplus (to Buyer)? 23. What Area shows Social Surplus (total Trade Gains)? 24. What Area shows the Social Waste (lost trade-gains) due to the Price Control imposed by legal force on these traders?
(2 pts.) 25. At the Price of $100: draw & label the “sale price” line, then shade in the Loss to Sellers for their initial pricing mistake -SHOW YOUR ANSWER on the Graphupload your DRAWING AS PICTURE file! 26. At the Price ‘Floor’ you identified above (in your responses): What Area (use Letters on Graph above) shows the Subsidy or “corporate welfare” (spending of tax dollars by federal program to buy up the unwanted surplus units)?
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.