equilibrium price and quantity. 38.00- The total economic surplus is $ 96 per day. (Round your response to the nearest cent as needed.) 34.00 30.00- b. Calculate the total economic surplus in this market when a price ceiling at $14 is in effect. 26.00- The total economic surplus is $ 72 per day. a 22.00- (Round your response to the nearest cent as needed.) 8 18.00+ c. After imposition of the price ceiling at $14, how many units of this good are no longer being produced and consumed per day compared to the free-market equilibrium? 14,00 10.00- 4 unit(s) of this good are no longer being produced and consumed per day 6.00- compared to the free-market equilibrium. (Round your response to the nearest whole number as needed ) 2.00- 10 12 14 d. Calculate the deadweight loss that results from the imposition of the price ceiling at $14. Quantity (units per day) The deadweight loss that results from the imposition of the price ceiling at $14 is $ 24 per day. (Round your response to the nearest cent as needed.) e. Calculate the total economic surplus in this market when a price floor at $22 is in effect The total economic surplus is $ (Round your response to the nearest cent as needed.) per day.

equilibrium price and quantity. 38.00- The total economic surplus is $ 96 per day. (Round your response to the nearest cent as needed.) 34.00 30.00- b. Calculate the total economic surplus in this market when a price ceiling at $14 is in effect. 26.00- The total economic surplus is $ 72 per day. a 22.00- (Round your response to the nearest cent as needed.) 8 18.00+ c. After imposition of the price ceiling at $14, how many units of this good are no longer being produced and consumed per day compared to the free-market equilibrium? 14,00 10.00- 4 unit(s) of this good are no longer being produced and consumed per day 6.00- compared to the free-market equilibrium. (Round your response to the nearest whole number as needed ) 2.00- 10 12 14 d. Calculate the deadweight loss that results from the imposition of the price ceiling at $14. Quantity (units per day) The deadweight loss that results from the imposition of the price ceiling at $14 is $ 24 per day. (Round your response to the nearest cent as needed.) e. Calculate the total economic surplus in this market when a price floor at $22 is in effect The total economic surplus is $ (Round your response to the nearest cent as needed.) per day.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Do the last part please

equilibrium price and quantity.
38.00-
The total economic surplus is $ 96 per day.
(Round your response to the nearest cent as needed.)
34.00-
30.00-
b. Calculate the total economic surplus in this market when a price ceiling at
$14 is in effect.
26.00-
The total economic surplus is $ 72 per day.
e 22.00
(Round your response to the nearest cent as needed.)
18.00-
c. After imposition of the price ceiling at $14, how many units of this good are
no longer being produced and consumed per day compared to the free-market
equilibrium?
14.00
10.00
4 unit(s) of this good are no longer being produced and consumed per day
6.00-
compared to the free-market equilibrium.
(Round your response to the nearest whole number as needed.)
2.00-
10
12
14
d. Calculate the deadweight loss that results from the imposition of the price
ceiling at $14.
Quantity (units per day)
The deadweight loss that results from the imposition of the price ceiling at $14
is $ 24 per day.
(Round your response to the nearest cent as needed.)
e. Calculate the total economic surplus in this market when a price floor at $22
is in effect.
The total economic surplus is $
per day.
(Round your response to the nearest cent as needed.)
Price ($)

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