Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. can i have a simple, clear , correct answer to q 1

Can I have a simple, clear , correct answer to Q 14 and 15 plz...

70.2K

Verified Solution

Question

Accounting

Can I have a simple, clear , correct answer to Q 14 and 15 plz image
Q1. Suppose that the supply is Qs=4p14, and demand is Qd=30p. Now suppose that a price ceiling of $6 is imposed. Compared with the free-market equilibrium, the total surplus decreases. Answer the following questions: 13. Who get the products produced at the best-case scenario? How much does total surplus decrease under best-case scenario? ( 2 points) 14. (Bonus Question). Who get the products produced at the worst-case scenario? How much does total surplus decrease under worst-case scenario? (2 points) 15. (Bonus Question). If the products produced are randomly assigned to consumers (c.g. the allotment of car license plates in Beijing, China), how much does the total surplus decrease? (2 points)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Clearly and concisely explain how ionic (ion exchange) tempering of glass increases its strength (note that...

Biology
1.2K views

What is the relationship between Microvilli of gut, epithelium, glucose, circulatory system, capillary fenestrations, glucose/ATP/life. Major emphasis...

Basic Math
1.2K views

e Name Write your name here FOR EACH PROBLEM Write an equation in slope intercept...

Statistics
1.2K views

What is the largest perfect square factor of 8 Simplify 8 completely to the form...

Statistics
1.2K views

A football coach hears that a new exercise program will increase upper body strength better...

Accounting
1.2K views

Transfer Pricing Aulman Inc. has a number of divisions, including a Furniture Division and a...

Accounting
1.2K views

Q: What is the purpose of a fair value hedge?

Accounting
1.2K views

Inventory information for Part 311 of Crane Corp. discloses the following information for the month...

Accounting
1.2K views

(b) Use the high-low method to develop a schedule identifying the amount of each cost...

Accounting
1.2K views

The assembling division uses component G , along with externally supplied components, in the ...

Accounting
1.2K views

87. What are the implications of IFRS adoption for investors, analysts, and other stakeholders?

Finance
1.2K views

Beckinridge Plastic Co plans to undertake one of the following two projects, say A and...