Top Posters
Since Sunday
g
3
3
2
J
2
p
2
m
2
h
2
s
2
r
2
d
2
l
2
a
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
shahabkhon shahabkhon
wrote...
Go to Answer
Posts: 139
Rep: 0 0
A year ago

The diagram below shows the market for some agricultural product, X.

Short description: A graph plots the quantity of X against the price of X. Long description: The horizontal axis representing the quantity of X in units per week ranges from 300 to 1800, in increments of 300. The vertical axis representing the price of X in dollars ranges from 1.00 to 6.00, in increments of 1.00. The graph plots two lines. A decreasing line representing D passes through the following points: (300, 5.00), (600, 4.00), (900, 3.00), (1200, 2.00), and (1500, 1.00). An increasing line representing S passes through the following points: (300, 1.00), (600, 2.00), (900, 3.00), (1200, 4.00), and (1500, 5.00). The two lines intersect at (900, 3.00).  Note: All values are approximate.

FIGURE 5-8

Refer to Figure 5-8. Suppose the government has imposed a price floor at $5.00 per unit in this market. With this price floor in place, what is the weekly amount of deadweight loss in this market?



▸ $150

▸ $300

▸ $1200

▸ $1350

▸ $1500
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
Read 16 times
1 Reply
Replies
Answer verified by a subject expert
jjwatsonjjwatson
wrote...
#1
Posts: 113
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

shahabkhon Author
wrote...

A year ago
Thanks
derya1234
wrote...

Yesterday
Smart ... Thanks!
patyfeitosa
wrote...

2 hours ago
Correct Slight Smile TY
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  851 People Browsing
 124 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 759
  
 715
  
 1071
Your Opinion
What percentage of nature vs. nurture dictates human intelligence?
Votes: 431
Previous poll results: What's your favorite math subject?