Price 18 16 14 12 10 8 6 4 2 0 I 1 I 0 5 I I 1 Market for Computer Games 1 I I I 10 15 20 25 I 15 30 There is no surplus quantity 45 I I 30 35 I 40 Quantity I I I I I I I 45 50 55 60 10 I 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)?
Price 18 16 14 12 10 8 6 4 2 0 I 1 I 0 5 I I 1 Market for Computer Games 1 I I I 10 15 20 25 I 15 30 There is no surplus quantity 45 I I 30 35 I 40 Quantity I I I I I I I 45 50 55 60 10 I 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)?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
11
![Question 39
Price
18
16
14
12
10
8
6
4
2
0
0
I
I
I
I
I
I
1
5 10
Market for Computer Games
I
I
I
I
15
I
I
I
20 25
I
15
30
There is no surplus quantity
45
30
I
I
I
35 40
Quantity
I
I
I
45
I
I
I
I
I
I
I
50 55 60
I
I
65 70 75
S
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%2F3b56a322-0672-4ba4-b255-f1c6acc38764%2F1693ad12-984c-4d38-b1cf-86bd5d030bb4%2Fqilder_processed.png&w=3840&q=75)
Transcribed Image Text:Question 39
Price
18
16
14
12
10
8
6
4
2
0
0
I
I
I
I
I
I
1
5 10
Market for Computer Games
I
I
I
I
15
I
I
I
20 25
I
15
30
There is no surplus quantity
45
30
I
I
I
35 40
Quantity
I
I
I
45
I
I
I
I
I
I
I
50 55 60
I
I
65 70 75
S
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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