Microeconomics (7th Edition)
Microeconomics (7th Edition)
7th Edition
ISBN: 9780134737508
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Chapter 4, Problem 4.3.6PA

Sub part (a):

To determine

The equilibrium price and quantity.

Sub part (b):

To determine

The total revenue received by the producers.

Sub part (c):

To determine

Total revenue received by producers after imposing $30 price floor.

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17. Given that C=$700+0.8Y, I=$300, G=$600, what is Y if Y=C+I+G?

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