3. If we know that the market equilibrium price is $45 and the equilibrium quantity is 3, check whether the market equilibrium yields the optimal welfare in the market. 4. If the government intervenes in the market, what is the effect of this intervention on the optimal welfare in the market?
3. If we know that the market equilibrium price is $45 and the equilibrium quantity is 3, check whether the market equilibrium yields the optimal welfare in the market. 4. If the government intervenes in the market, what is the effect of this intervention on the optimal welfare in the market?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter4: Prices: Free, Controlled, And Relative
Section: Chapter Questions
Problem 2WNG
Related questions
Question
3 and 4 please. Thank you
![According to the following tables, please answer the questions 1 and 2.
Consumer
Mr.A
Mrs.B.
Mr.C
Mrs.D
Seller/Producer
A Ltd.
B Corp.
C Corp.
D Com.
STORSZ
the
WTP
20
30
40
50
H
Cost
25
35
45
55
CREW
Leurve.
IV)
3. If we know that the market equilibrium price is $45 and the equilibrium quantity is 3,
check whether the market equilibrium yields the optimal welfare in the market.
4.
If the government intervenes in the market, what is the effect of this intervention on the
optimal welfare in the market?
ampras.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8a4e97f1-f0df-4d85-bfb6-366a5432627e%2Fb536064c-1dcd-4a58-98b6-26424a30d88a%2Fz7hcpl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:According to the following tables, please answer the questions 1 and 2.
Consumer
Mr.A
Mrs.B.
Mr.C
Mrs.D
Seller/Producer
A Ltd.
B Corp.
C Corp.
D Com.
STORSZ
the
WTP
20
30
40
50
H
Cost
25
35
45
55
CREW
Leurve.
IV)
3. If we know that the market equilibrium price is $45 and the equilibrium quantity is 3,
check whether the market equilibrium yields the optimal welfare in the market.
4.
If the government intervenes in the market, what is the effect of this intervention on the
optimal welfare in the market?
ampras.
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