7 Note: No referencing is required for short answer questions.Using the information contained in the diagram immediately below: (i) Calculate the consumer surplus at equilibrium. (ii) Calculate the producer surplus at equilibrium. (iii) Calculate the deadweight loss if the government imposed a price floor of $60.(iv) is the imposition of the $60 price floor Pareto Optimal? Why?120100Price ($)For the real10Demand15-Supply2025

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Note: No referencing is required for short answer questions. Using the information contained in the diagram immediately below: (1) Calculate the consumer surplus at equilibrium. (i) Calculate the producer surplus at equilibrium (1) Calculate the deadweight loss if the government imposed a price floor of $60. () is the imposition of the $60 price floor Pareto Optimal? Why? 120 Price (5) 100 22. 20 0 5 10 15 -Demand Supply 20 25 4

Note: No referencing is required for short answer questions. Using the information contained in the diagram immediately below: (1) Calculate the consumer surplus at equilibrium. (i) Calculate the producer surplus at equilibrium (1) Calculate the deadweight loss if the government imposed a price floor of $60. () is the imposition of the $60 price floor Pareto Optimal? Why? 120 Price (5) 100 22. 20 0 5 10 15 -Demand Supply 20 25 4

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter16: Public Goods And Public Choice

Section: Chapter Questions

Problem 14PAE

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