The table shows the demand and supply schedules for blueberries. Suppose that the government introduces a production quota for blueberries and sets it at 1,500 pounds per week With the quota what is the market price of bluebernes, the producer surplus and the deadweight loss? Who gains and who loses? With the quota, the market price of blueberries is $a pound Price (dollars per pound) 1.50 3.00 4.50 6.00 7.50 9.00 Quantity demanded Quantity supplied (pounds per week) 3,375 3,000 2,625 2,250 1,875 1,500 0 750 1,500 2,250 3,000 3,750

The table shows the demand and supply schedules for blueberries. Suppose that the government introduces a production quota for blueberries and sets it at 1,500 pounds per week With the quota what is the market price of bluebernes, the producer surplus and the deadweight loss? Who gains and who loses? With the quota, the market price of blueberries is $a pound Price (dollars per pound) 1.50 3.00 4.50 6.00 7.50 9.00 Quantity demanded Quantity supplied (pounds per week) 3,375 3,000 2,625 2,250 1,875 1,500 0 750 1,500 2,250 3,000 3,750

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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