1. A market has a demand function given by the equation Qd = 180 – 2P, and a supply function given by the equation Qs = -15 + P. The market is government -regulated with a price support per unit and production quotas. If the price is set at $72 per unit, what production quota is needed to make sure there are no shortages or surpluses? Considering the price support and the quota, calculate: a. Deadweight loss
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1. A market has a
If the price is set at $72 per unit, what production quota is needed to make sure there are no shortages or surpluses?
Considering the price support and the quota, calculate:
a.
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- Please answer Part C iii, iv. Thank you. A market has a demand function given by the equation Qd = 180 - 2p, and a supply function given by the equation Qs = -15 + P. The market is government regulated with a price support per unit and production quotas. (a) If the price is set at $72 per unit, what production quota is needed to make sure there are no shortgages or surpluses? Answer 36 (b) Considering th eprice support and the quota, calculate: (i) the consumer surplus Answer 324 (ii) the producer surplus Answer 1404 (iii) deadweight loss Answer 252 (c) Due to good weather, there is an increase in demand for the good. The new demand equation is Qd = 190 - 2P. The government is trying to decide between two options: Maintain the number of quotas and let the market adjust, or Maintain the price support and increase the number of quotas. Suppose that the government decided to maintain the number of quotas and let the market adjust calculate: (i) price observed in the market Answer 46…Question 6 A market has a demand function given by equation Qd=180-2P, and a supply function given by the equation Qs= -15+P. the market is government-regulated with price support per unit and production quotas. If the price is set at $72 per unit what production quota is needed to make sure there are no shortages of surpluses? Considering the price support and the quota, calculate the consumer surplus Calculate the producer surplus Calculate the deadweight lossA market has a demand function given by the equation Qd=180-2P, and a supply function given by the equation Qs=-15+P. The market is government regulated with price support per unit and production quotas. (a) if the price is set at $72 per unit, what production quota is needed to make sure there are no shortages or surpluses? Considering the price support and the quota, calculate (I)the consumer surplus (iI)the producer surplus (iii) the deadweight loss Due to good weather there is an increase in the demand for the good. The new demand equation is Qd=190-2P. The government is trying to device between these two options maintain the number of quotas and let the market adjust or maintain the price support and increase the number of quotas? Suppose that the government decides to maintain the number of quotas and let the market adjust. Calculate (I) price observed in the market (ii)the consumer surplus (iii) the producer surplus (iv) the deadweight loss Suppose now that the government…
- A market has a demand function given by the equation Qd= 180- 2P, and a supply function given by the equation Qs= -15+P. The market is government regulated with a price support per unit and production quotas. a) if all price set is set at $72 per unit, what is the production quota is needed to make sure there are no shortage of surpluses? Considering the price support amd the quota, calculate i) the consumer surplus ii) the producer surplus iii) deadweight lossA market has a demand function given by the equation Qd = 180 - 2P, and a supply functiongivebn by the equation Qs = -15 + P. The market is government regulated with a price support per unit and production quotas. If the price is set at $72 per unit, what production quota is needed to make sure there are no shortages or surpluses? Considering the price support and the quota, calculate i) the consumer surplus ii) the producer surplus iii) deadweight lossPlease answer questions C (iii), C (iv) and d. Thank you. A market has a demand function given by the equation Qd = 180 - 2p, and a supply function given by the equation Qs = -15 + P. The market is government regulated with a price support per unit and production quotas. (a) If the price is set at $72 per unit, what production quota is needed to make sure there are no shortgages or surpluses? (b) Considering th eprice support and the quota, calculate: the consumer surplus the producer surplus deadweight loss (c) Due to good weather, there is an increase in demand for the good. The new demand equation is Qd = 190 - 2P. The government is trying to decide between two options: Maintain the number of quotas and let the market adjust, or Maintain the price support and increase the number of quotas. Suppose that the government decided to maintain the number of quotas and let the market adjust calculate: (i) price observed in the market (ii) the consumer surplus (iii) the producer surplus…
- Please answer Part di, ii, iii. Thank you. A market has a demand function given by the equation Qd = 180 - 2p, and a supply function given by the equation Qs = -15 + P. The market is government regulated with a price support per unit and production quotas. (a) If the price is set at $72 per unit, what production quota is needed to make sure there are no shortgages or surpluses? Answer 36 (b) Considering th eprice support and the quota, calculate: (i) the consumer surplus Answer 324 (ii) the producer surplus Answer 1404 (iii) deadweight loss Answer 252 (c) Due to good weather, there is an increase in demand for the good. The new demand equation is Qd = 190 - 2P. The government is trying to decide between two options: Maintain the number of quotas and let the market adjust, or Maintain the price support and increase the number of quotas. Suppose that the government decided to maintain the number of quotas and let the market adjust calculate: (i) price observed in the market Answer…A market has a demand function given by the equation Qd=180-2P and and a supply function given by the equation Qs=-15+P. The market is government regulated with a price support per unit and production quotas. (a)If the price is set at $72 per unit, what production quota is needed to make sure there are no shortages or surpluses? (b) considering the price support and the quota, calculate the consumer surplusA market has a demand function given by the equation Qd = 180 – 2P, and a supply function given by the equation Qs = –15 + P. The market is government-regulated with a price support per unit and production quotas. (a) If the price is set at $72 per unit, what production quota is needed to make sure there are no shortages or surpluses? (b) Calculate the deadweight loss Due to good weather, there is an increase in the demand for the good. The new demand equation is Qd = 190 – 2P. The government is trying to decide between two options: Maintain the number of quotas and let the market adjust, or Maintain the price support and increase the number of quotas. Suppose that the government decides to maintain the number of quotas and let the market adjust. (c) Calculate the(i) price observed in the market, (ii)the consumer and producer surplus (iii)deadweight loss
- A market has a demand function given by the equation Qd = 180-2p, and a supply function given by the equation Qs = 15 + p. The market is government-regulated with a price support per unit and production quotas. if the price is set at $72 per unit, what production quota is needed to make sure there are no shortages or surpluses? considering the price support and the quota calculate the consumer surplus the producer surplus deadweightA market has a demand function given by the equation Qd = 180 – 2P, and a supply function given by the equation Qs = –15 + P. The market is government-regulated with a price support per unit and production quotas. Considering the price support and the quota, calculate deadweight lossQd = 180 - 2P, Qs = ‐ 15 + P The market is government-regulated with a price support per unit and production quotas. If the price is set at $72 per unit, what production quota is needed to make sure there are no shortages or surpluses? a.an increase in the demand for the good. new demand equation is Qd = 190 - 2P. The government is trying to decide between two options: Maintain the number of quotas and let the market adjust, or Maintain the price support and increase the number of quotas. Suppose that the government decides to maintain the number of quotas and let the market adjust, what is: The price observed in the market? The consumer surplus? The producer surplus? The deadweight loss? b. Suppose the government decides to increase the number of quotas available to 72 units but it keeps the price support at the current level of $72, what is: The consumer surplus? The producer surplus? The deadweight loss? c. Which of the government options in 1a. will be preferred by: The Producers?…