Reference no: EM13736721
Use the following graph to answer the group of questions please and thank you:
1) What is the equilibrium price for lawn mowers?
2) What is the equilibrium quantity of lawn mowers?
3) What is the value of the maximum gains from trade?
4) Assume that there are 1800 units produced and purchased (this could be the result of a government subsidy for lawn mowers). What is the value of wasted resources?
5) What is the value of consumer surplus if a price ceiling of $40 is put in place?
6) If a price floor of $320 is put in place, what is the magnitude of the result that is the answer to the previous question?
7) If a price ceiling of $220 is put in place, what is the quantity of lawn mowers that will be sold in the market?
8) Assume lawn mowers are a normal good. Which of the following could result in an equilibrium price and quantity of $40 and 1800 lawn mowers?
A) increase in income
B) decrease in labor for lawn mower producers
C) increase in the price of lawn mowing services
D) decrease in income
9) Assume lawn mowers are a normal good. Which of the following could result in an equilibrium price and quantity of $80 and 400 lawn mowers?
A) a $100 subsidy for lawn mower production
B) increase in the price of lawn mowing services
C) decrease in income
D) increase in labor costs for lawn mower producers
10) If a price floor of $320 is put in place, what is the value of wasted quality improvements in lawn mowers?
11) If a price ceiling of $80, is put in place, what is the value of the deadweight loss?
Public policies on the supply of labor
: Discuss the effect of the following public policies on the supply of labor. If there is a difference, discuss how the effect varies over time (e.g., now versus in the future) or across different groups of people. Allowing a tax credit for childcare e..
|
Why did jones soda make the marketing
: Describe the marketing/distribution channel change - Why did Jones Soda make the marketing
|
Develop a paper on microsoft company
: Use an abbreviated version of the Strategic Scaffolding methodology to develop a paper on Microsoft company
|
Monopoly and antitrust policy
: Monopoly and Antitrust Policy. What is the difference between holding a monopoly and monopolization? Which is illegal? Explain.
|
What is the equilibrium price for lawn mowers
: What is the equilibrium price for lawn mowers? What is the equilibrium quantity of lawn mowers? What is the value of the maximum gains from trade? What is the value of consumer surplus if a price ceiling of $40 is put in place?
|
Sable monopoly traps hard currency-coats capitalists
: The World View article "Foxy Soviets Pelt the West: Sable Monopoly Traps Hard Currency, Coats Capitalists" provides evidence that
|
Write sales pitch to the end consumer to sell your product
: Write a sales pitch to the end consumer to sell your product. Select the appropriate channel for delivering your message based on context, audience, and purpose. Explain why you selected this particular channel
|
Organizational consequences for asian americans
: Discuss the potential negative individual and organizational consequences for Asian Americans being perceived as a model minority.
|
Suppose a firm has an annual budget
: In order to host the Winter Olympic Games, the city of Vancouver incurred a large debt, which will have to be repaid over time. Reflecting on this fact, one Vancouver resident complained, “The average guy is going to see his taxes increase” [Austen, ..
|