Price 18 16 14 12 10 6 4 Market for Computer Games 1 0 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 Quantity Consider the market for computer games in the graph above. The quantity supplied decreases by 15 games at each price as a result of an increase in input costs. After the supply decreases, the government sets a price floor at $12 per game. What is the resulting surplus quantity from this policy (considering the new supply curve)? There is no surplus quantity 30 45 15
Price 18 16 14 12 10 6 4 Market for Computer Games 1 0 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 Quantity Consider the market for computer games in the graph above. The quantity supplied decreases by 15 games at each price as a result of an increase in input costs. After the supply decreases, the government sets a price floor at $12 per game. What is the resulting surplus quantity from this policy (considering the new supply curve)? There is no surplus quantity 30 45 15
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Price
18
16
14
12
10
8
4
1
1
Market for Computer Games
HH H
1
1
1
1
1
1
There is no surplus quantity
30
45
15
1
1
1
0+
0 5 10 15 20 25 30 35 40 45
Quantity
1
H
1
1
I
1
1
50 55 60 65 70 75
Consider the market for computer games in the graph above. The quantity supplied
decreases by 15 games at each price as a result of an increase in input costs. After
the supply decreases, the government sets a price floor at $12 per game. What is
the resulting surplus quantity from this policy (considering the new supply curve)?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F74a50de9-2065-47f7-a315-bf569a9e3aa9%2Fdcafd28d-dcf0-4545-8638-6181425378e1%2Fr9nvjzt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Price
18
16
14
12
10
8
4
1
1
Market for Computer Games
HH H
1
1
1
1
1
1
There is no surplus quantity
30
45
15
1
1
1
0+
0 5 10 15 20 25 30 35 40 45
Quantity
1
H
1
1
I
1
1
50 55 60 65 70 75
Consider the market for computer games in the graph above. The quantity supplied
decreases by 15 games at each price as a result of an increase in input costs. After
the supply decreases, the government sets a price floor at $12 per game. What is
the resulting surplus quantity from this policy (considering the new supply curve)?
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