Answered: In the market for pineapples, let's…

In the market for pineapples, let's assume that the government imposes a price floor at $3. The deadweight loss from this price floor is represented by the sum of which areas?

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

Answer plzz...

In the market for pineapples, let's assume that the government imposes a price floor at $3. The deadweight loss from this price floor is
represented by the sum of which areas?
Price (per pound in USD)
3.00
2.50
2:00
B+C
A
B
D
OCHE
OB+D+F
11
OB+C+D+E+F
Market for Pineapples
1800
O
w
2000
D
2200 Quantity
In millions of pounds)

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