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Now assume the government introduces a law that says bagles cannot cost more than $15 per box. or a surplus in the market and how big is the b.) Given the price of $15, is there a shortage o shortage or surplus if it exists? (1 Point) c.) In the graph below, shade in and label the consumer surplus and the producer surplus in the market with the price ceiling of $15. (1 Point) d.) Comparing the consumer and producer surplus before and after the price ceiling, highlight if there is any loss. (1 Point) Price (dollars) 30 25 25 20 20 15 10 10 0 40 S D 98 80 120 160 200 240 Quantity

Now assume the government introduces a law that says bagles cannot cost more than $15 per box. or a surplus in the market and how big is the b.) Given the price of $15, is there a shortage o shortage or surplus if it exists? (1 Point) c.) In the graph below, shade in and label the consumer surplus and the producer surplus in the market with the price ceiling of $15. (1 Point) d.) Comparing the consumer and producer surplus before and after the price ceiling, highlight if there is any loss. (1 Point) Price (dollars) 30 25 25 20 20 15 10 10 0 40 S D 98 80 120 160 200 240 Quantity

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 11SCQ: If a price floor benefits producers, why does a price floor reduce social surplus?
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Now assume the government introduces a law that says bagles cannot cost more than $15 per box. or a surplus in the market and how big is the b.) Given the price of $15, is there a shortage o shortage or surplus if it exists? (1 Point) c.) In the graph below, shade in and label the consumer surplus and the producer surplus in the market with the price ceiling of $15. (1 Point) d.) Comparing the consumer and producer surplus before and after the price ceiling, highlight if there is any loss. (1 Point) Price (dollars) 30 25 25 20 20 15 10 10 0 40 S D 98 80 120 160 200 240 Quantity
Transcribed Image Text:Now assume the government introduces a law that says bagles cannot cost more than $15 per box. or a surplus in the market and how big is the b.) Given the price of $15, is there a shortage o shortage or surplus if it exists? (1 Point) c.) In the graph below, shade in and label the consumer surplus and the producer surplus in the market with the price ceiling of $15. (1 Point) d.) Comparing the consumer and producer surplus before and after the price ceiling, highlight if there is any loss. (1 Point) Price (dollars) 30 25 25 20 20 15 10 10 0 40 S D 98 80 120 160 200 240 Quantity
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