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uppose that the government introduces a production quota for apples and sets it at 2,500 pounds per week. Tho gains and who loses? What are the market price of apples, the producer surplus, and the deadweight loss? he market price of apples is $ a pound. he producer surplus is $. >> Answer to two decimal places. me deadweight loss is $. fith a production quota sel at 2,500 pounds a week, A. consumer surplus shrinks and consumers lose, and producer surplus increases and farmers gain B. both consumers and farmers gain because the price of apples rises Price (dollars per pound) 1.75 3.50 5.25 7.00 8.75 10.50 Quantity demanded (pounds per week) 5,625 5,000 4,375 Quantity supplied 3,750 3,125 2,500 0 1,250 2,500 3.750 5,000 6,250

uppose that the government introduces a production quota for apples and sets it at 2,500 pounds per week. Tho gains and who loses? What are the market price of apples, the producer surplus, and the deadweight loss? he market price of apples is $ a pound. he producer surplus is $. >> Answer to two decimal places. me deadweight loss is $. fith a production quota sel at 2,500 pounds a week, A. consumer surplus shrinks and consumers lose, and producer surplus increases and farmers gain B. both consumers and farmers gain because the price of apples rises Price (dollars per pound) 1.75 3.50 5.25 7.00 8.75 10.50 Quantity demanded (pounds per week) 5,625 5,000 4,375 Quantity supplied 3,750 3,125 2,500 0 1,250 2,500 3.750 5,000 6,250

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Ch 15

Economics 

 

The table shows the demand and supply schedules for apples. Suppose that the government introduces a production quota for apples and sets it at 2,500 pounds per week. Who gains and who loses? What are the market price of apples, the producer surplus, and the deadweight loss? The market price of apples is $a pound. The producer surplus is $. >>> Answer to two decimal places. The deadweight loss is $. With a production quota sel at 2,500 pounds a week, A. consumer surplus shrinks and consumers lose, and producer surplus increases and farmers gain OB. both consumers and farmers gain because the price of apples rises OC. both consumers and farmers lose because a deadweight loss arises OD. producer surplus shrinks and farmers lose, and consumer surplus increases and consumers gain Price (dollars per pound) 1.75 3.50 5.25 7.00 8.75 10.50 Quantity demanded (pounds per week) 5,625 5,000 Quantity supplied 4,375 3,750 3,125 2,500 0 1,250 2,500 3.750 5,000 6.250
Transcribed Image Text:The table shows the demand and supply schedules for apples. Suppose that the government introduces a production quota for apples and sets it at 2,500 pounds per week. Who gains and who loses? What are the market price of apples, the producer surplus, and the deadweight loss? The market price of apples is $a pound. The producer surplus is $. >>> Answer to two decimal places. The deadweight loss is $. With a production quota sel at 2,500 pounds a week, A. consumer surplus shrinks and consumers lose, and producer surplus increases and farmers gain OB. both consumers and farmers gain because the price of apples rises OC. both consumers and farmers lose because a deadweight loss arises OD. producer surplus shrinks and farmers lose, and consumer surplus increases and consumers gain Price (dollars per pound) 1.75 3.50 5.25 7.00 8.75 10.50 Quantity demanded (pounds per week) 5,625 5,000 Quantity supplied 4,375 3,750 3,125 2,500 0 1,250 2,500 3.750 5,000 6.250
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