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Perfect Competition If the government sets a quota of 200 thousand units a. What quantity and price after regulated quota? b. How much consumer surplus does the consumer receive? c. How much producer surplus does the producer receive? d. What is the total surplus the Community get? e. How much deadweight loss? Price (dollars per purse) 50 40 30 20 10 T D b C D- MSB S = MSC 100 200 300 400 500 600 Quantity (thousands of purses per month)

Perfect Competition If the government sets a quota of 200 thousand units a. What quantity and price after regulated quota? b. How much consumer surplus does the consumer receive? c. How much producer surplus does the producer receive? d. What is the total surplus the Community get? e. How much deadweight loss? Price (dollars per purse) 50 40 30 20 10 T D b C D- MSB S = MSC 100 200 300 400 500 600 Quantity (thousands of purses per month)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Perfect Competition If the government sets a quota of 200 thousand units a. What quantity and price after regulated quota? b. How much consumer surplus does the consumer receive? c. How much producer surplus does the producer receive? d. What is the total surplus the Community get? e. How much deadweight loss? Price (dollars per purse) 50 40 30 20 10 O a b ✓ D- MSB S-MSC 9 100 200 300 400 500 600 Quantity (thousands of purses per month)
Transcribed Image Text:Perfect Competition If the government sets a quota of 200 thousand units a. What quantity and price after regulated quota? b. How much consumer surplus does the consumer receive? c. How much producer surplus does the producer receive? d. What is the total surplus the Community get? e. How much deadweight loss? Price (dollars per purse) 50 40 30 20 10 O a b ✓ D- MSB S-MSC 9 100 200 300 400 500 600 Quantity (thousands of purses per month)
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