Estimate consumer and producer surplus before quota

Assignment Help Business Economics
Reference no: EM1367461

Q. Market demand and supply functions for imported beer are: Qd = 4, 800 - 40P and Qs = -1, 200 + 20P. To encourage consumption of domestic beer (such as from new Fort Collins brewery in question 6 above), Congress has imposed a quota of 600 units of imported beer.

a. Estimate aggregate consumer and producer surplus before quota.

b. Estimate new consumer and producer surplus after quota.

c. Estimate deadweight loss from quota.

Reference no: EM1367461

Previous Q& A

  Explain specific challenges of facing designer

Explain specific challenges of facing the designer, specifically with regard to limitations of hardware, software and interface design two paragraph each.

  Examples of a medical office implementing ehr

Research and provide examples of a medical office that has implemented EHRs. How has it helped them? Has it created any negative aspects.

  Determine the growth rate of real gdp

Suppose last year's real GDP was $7,000 billion, this years nominal GDP is $8,820 billion, and GDP-deflator for this year is 120. Determine the growth rate of real GDP?

  Explain leaf of b tree which holds a sublist

Artificially small example of B+ tree is shown here (pdf). (Note only part of tree is shown in detail.) What nodes of example B+ tree are visited to find posting list for "dune"?

  Illustrate what do you think disrupted mcdonald plans

Within two weeks sales had fallen. Utilizing your knowledge of game theory, Illustrate what do you think disrupted McDonald's plans.

  Evidence-based practice report

Identify a research topic that you intend to investigate and write about as an evidence-based practice report Project Topic such as COPD, Asthma, Cancer or other health topics)

  Illustrate what is economy aggregate consumption function

Illustrate what is economy's aggregate consumption function. Illustrate what is marginal propensity to consume for economy.

  Determine supply and demand for labor

Many factors discuss the supply and demand for labor. Identify and describe two factors that would increase or decrease the demand for labor.

  Changes in price of a key commodity

How would government react to sudden, large changes in the price of a key commodity, such as gasoline, electricity, or prices on stocks on the New York Stock Exchange?

  Illustrate what will be monopoly cost

If industries collude, Illustrate what will be monopoly cost (optimal cost P*), total output of two industries (Q= q1 + q2) and total profits of two industries.

Reviews

Write a Review

 

Similar Q& A

  Tuckers industrial engineers have informed management

Tucker's industrial engineers have informed management that hiring one additional worker will increase output by five units every hour

  Illustrate what marketplace structure did you assume

Illustrate what marketplace structure did you assume. Would your answers in b change if the marketplace for sewing machines were competitive.

  What the equilibrium interest rates for the federal funds

Elucidate what the equilibrium interest rates for the federal funds rate the government bond rate also the private bond rate are also Illustrate what the equilibrium level of income is.

  Given the annual information

Given the following annual information about a hypothetical country, answer questions a through d

  Primarily competitive and the market demand

Determine also show how much these firms will sell and what they will charge.

  Target market and pricing strategy

Provide a rational for why you feel the new target market and pricing strategy would be successful and the likely impact to the profitability of the firm.

  Elucidates how their possible production

The table elucidates how their possible production every month if both work the same number of 8 hour days. Which of the following statements is correct.

  Water cooler the demand also cost estimate

Overhead at the water cooler the demand also cost estimate which were provided at the meeting are very useful.

  Compute consumption government purchases national saving

Assume this economy is closed to trade, and compute consumption, government purchases, national saving, and investment.

  Consumer surplus be affected

An equal number of consumers who have a willingness to pay of $119 are allowed to buy the good at a price of $99. How will consumer surplus be affected.

  Elucidate what happens to the price of oranges

Elucidate what happens to the price of oranges and the marginal product of orange pickers as a result of the freeze. Can you say what happens to the demand for orange pickers.

  Assuming that the income effect is negligible

Assuming that the income effect is negligible, how much will he be hurt if the cost of strawberries goes from $1 a pint to $2 a pint.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd