ECON-3030-A1/A2/B1/B2-Managerial Economics-Winter-2025
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Refer to the demand and supply equations to answer the following questions.
Market demand is given as QD = 200 – 3P.
Market supply is given as QS = 2P + 100.
1) If the government imposes a binding price floor of
$28.00in this market, what is the result?
a. There will be a of units. b. The redistribution of surplus from consumers to the producer is equal to $.
c. The loss of producer surplus is equal to $.
2) If the government imposes a binding price ceiling of $14.00 in this market, what is the result? a. There will be a of units.
question.
In which market(s) will the majority of a tax be paid by the buyer?
In which market(s) will the majority of a tax be paid by the seller?
In which market(s) will the tax be most equally divided between the buyer and the seller?
questions.
.
2) The price sellers receive after the tax is imposed is $.
3) The amount of the tax per unit imposed in this market is $.
4) The share of the tax burden per unit that buyers would pay is $.
5) The share of the tax burden per unit that sellers would pay is $.
6) The total tax amount collected by the government is $.
7) The loss of consumer surplus is $.
8) The loss of producer surplus is $ .Refer to the figure to answer the following two questions. in this market, what is the result? .
2) If the government imposes a binding price ceiling of $50.00 in this market, what is the result? a. There will be a of units.
MATCHING DEFINITION
The price sellers receive which also equals the
sellers’ minimum supply-price.
MATCHING DEFINITION
The state of not achieving maximum productivity;
failure to make the best use of time or resources.
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