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Social Science Clinic => Economics => Microeconomics => Topic started by: skymedlock on Jun 18, 2019

Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: skymedlock on Jun 18, 2019: The above figure shows supply and demand curves for milk. In an effort to help farmers, the government passes a law that establishes a $3 per gallon price support. To maintain the price support, government expenditures must equal
◦ k + i.
◦ f + g + h + i + j + k + e.
◦ f + g + h + i + j.
◦ f + g + h + i + j + k.
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: JaynaD87 on Jun 18, 2019: f + g + h + i + j + k.
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: skymedlock on Jun 18, 2019: Excellent
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: JaynaD87 on Jun 18, 2019: Great! Please up vote :D
Title: The above figure shows supply and demand curves for milk. If amount Q2 is produced in the market,
Post by: geoffrey on Jun 18, 2019: The above figure shows supply and demand curves for milk. If amount Q2 is produced in the market,
◦ producer surplus is maximized.
◦ a deadweight loss is generated.
◦ consumer surplus is minimized.
◦ All of the above.
Title: The above figure shows supply and demand curves for milk. If amount Q2 is produced in the market,
Post by: ricroger on Jun 18, 2019: a deadweight loss is generated.
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: jCorn1234 on Jun 18, 2019: The above figure shows supply and demand curves for milk. In an effort to help farmers, the government passes a law that establishes a $3 per gallon price support. To maintain the price support, government must purchase
◦ Q1 - Q2 gallons.
◦ Q2 gallons.
◦ Q2 - Q1 gallons.
◦ Q1 gallons.
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: matt95 on Jun 18, 2019: Q2 - Q1 gallons.
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: jCorn1234 on Jun 18, 2019: Thanks
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: matt95 on Jun 18, 2019: Welcome :)
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: lb_gilbert on Jun 18, 2019: The above figure shows supply and demand curves for milk. In an effort to help farmers, the government passes a law that establishes a $3 per gallon price support. As a result, consumer surplus falls by
◦ f + g.
◦ b + f - c.
◦ a.
◦ b + f.
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: elyse44 on Jun 18, 2019: b + f.
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: serike on Jun 18, 2019: The above figure shows supply and demand curves for milk. In an effort to help farmers, the government passes a law that establishes a $3 per gallon price support. The loss in social welfare resulting from this price support equals
◦ [$3 ∗ (Q₂ - Q₁)] - h.
◦ j.
◦ k + i.
◦ $3 ∗ k.
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: aburgess on Jun 18, 2019: [$3 ∗ (Q₂ - Q₁)] - h.
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: serike on Jun 18, 2019: Thank you!
Title: The above figure shows supply and demand curves for milk. In an effort to help farmers, the ...
Post by: aburgess on Jun 18, 2019: Always glad to help...
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: armygirl on Jun 18, 2019: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon specific tax, the loss in social welfare will equal
◦ b + c + f + g.
◦ f + g.
◦ b + f.
◦ c + g.
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: janeli1 on Jun 18, 2019: f + g.
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: littleanan on Jun 18, 2019: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon specific tax, the loss in consumer surplus will equal
◦ b + c + f + g.
◦ f + g.
◦ b + f.
◦ c + g.
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: javimendoza7 on Jun 18, 2019: b + f.
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: littleanan on Jun 18, 2019: TY
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: javimendoza7 on Jun 18, 2019: You're welcome
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: jon_i on Jun 18, 2019: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon specific tax, the loss in producer surplus will equal
◦ b + c + f + g.
◦ f + g.
◦ b + f.
◦ c + g.
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: josephsuarez on Jun 18, 2019: c + g.
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: cnetterville on Jun 18, 2019: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon specific tax, the tax revenue is
◦ $2 ∗ Q2.
◦ $2.
◦ $2 ∗ (Q2 - Q1).
◦ $2 ∗ Q1.
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: mcabuhat on Jun 18, 2019: $2 ∗ Q1.
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: cnetterville on Jun 18, 2019: Thank you!
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: mcabuhat on Jun 18, 2019: Always glad to help...
Title: The above figure shows supply and demand curves for milk. In an effort to help farms, the government ...
Post by: tiara099 on Jun 18, 2019: The above figure shows supply and demand curves for milk. In an effort to help farms, the government passes a law that establishes a $3 per gallon price support, but allows farmers to decide how much milk to produce. The government then provides a deficiency payment to guarantee that the farmers receive $3 per gallon. The required deficiency payment equals
◦ f + g.
◦ b + c.
◦ b + c + f + g + h + i + j.
◦ b + c + f + g + h + i.
Title: The above figure shows supply and demand curves for milk. In an effort to help farms, the government ...
Post by: katara on Jun 18, 2019: b + c + f + g + h + i + j.
Title: The above figure shows supply and demand curves for milk. In an effort to help farms, the government ...
Post by: SGallaher96 on Jun 18, 2019: The above figure shows supply and demand curves for milk. In an effort to help farms, the government passes a law that establishes a $3 per gallon price support, but allows farmers to decide how much milk to produce. The government then provides a deficiency payment to guarantee that the farmers receive $3 per gallon. The welfare loss of this price support is
◦ f + g.
◦ f + g + h + i + j.
◦ j.
◦ b + c.
Title: The above figure shows supply and demand curves for milk. In an effort to help farms, the government ...
Post by: Jossy on Jun 18, 2019: j.
Title: The above figure shows supply and demand curves for milk. In an effort to help farms, the government ...
Post by: SGallaher96 on Jun 18, 2019: Thanks
Title: The above figure shows supply and demand curves for milk. In an effort to help farms, the government ...
Post by: Jossy on Jun 18, 2019: Welcome :)
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: kwoodring on Jun 18, 2019: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon specific tax, the welfare loss will equal
◦ c + g.
◦ f + g.
◦ j.
◦ b + c + f + g.
Title: The above figure shows supply and demand curves for milk. If the government passes a $2 per gallon ...
Post by: scikid on Jun 18, 2019: f + g.
Title: The above figure shows supply and demand curves for milk. Suppose that the government passes a $2 ...
Post by: iveyjurea on Jun 18, 2019: The above figure shows supply and demand curves for milk. Suppose that the government passes a $2 per gallon subsidy. The deadweight loss resulting from this policy will be
◦ f + g.
◦ j.
◦ b + c + f + g.
◦ c + g.
Title: The above figure shows supply and demand curves for milk. Suppose that the government passes a $2 ...
Post by: maya.nigrin17@yahoo.com on Jun 18, 2019: j.
Title: The above figure shows supply and demand curves for milk. Suppose that the government passes a $2 ...
Post by: iveyjurea on Jun 18, 2019: Excellent
Title: The above figure shows supply and demand curves for milk. Suppose that the government passes a $2 ...
Post by: maya.nigrin17@yahoo.com on Jun 18, 2019: Great! Please up vote :D
Title: The above figure shows supply and demand curves for milk. If the government limits milk production ...
Post by: newyorker26 on Jun 18, 2019: The above figure shows supply and demand curves for milk. If the government limits milk production to Q2, the loss in social welfare will equal
◦ f + g.
◦ b + f.
◦ c + g.
◦ b + c + f + g.
Title: The above figure shows supply and demand curves for milk. If the government limits milk production ...
Post by: yasmin on Jun 18, 2019: f + g.
Title: The above figure shows the demand and supply curves in the market for milk. Currently the market is ...
Post by: lunatika on Jun 18, 2019: The above figure shows the demand and supply curves in the market for milk. Currently the market is in equilibrium. If the government imposes a $2 per gallon tax to be collected from sellers, estimate the change in p, Q, and social welfare.
Title: The above figure shows the demand and supply curves in the market for milk. Currently the market is ...
Post by: missalyssa26 on Jun 18, 2019: The supply curve shifts vertically by $2. The price changes from $3 per gallon to $4 per gallon. Quantity falls from 1,000 gallons to 500 gallons. The decrease in consumer surplus is (500 + 1000) ∗ 1/2 = $750, and the decrease in producer surplus is (500 + 1000) ∗ 1/2 = $750, and the tax revenue is 2 ∗ 500 = $1000. Therefore the change in social welfare is $1000 - $750 - $750 = $500.
Title: The above figure shows the demand and supply curves in the market for milk. Currently the market is ...
Post by: lunatika on Jun 18, 2019: Excellent
Title: The above figure shows the demand and supply curves in the market for milk. Currently the market is ...
Post by: missalyssa26 on Jun 18, 2019: Great! Please up vote :D
Title: The above figure shows the demand and supply curves in the market for milk. Currently, the market is ...
Post by: leo leo on Jun 18, 2019: The above figure shows the demand and supply curves in the market for milk. Currently, the market is in equilibrium. If the government imposes a $2 per gallon tax to be collected from sellers, calculate the dead weight loss associated with the tax, and explain why the dead weight loss occurs.
Title: The above figure shows the demand and supply curves in the market for milk. Currently, the market is ...
Post by: aprice35067 on Jun 18, 2019: The deadweight loss equals .5 ∗ 2 ∗ 500 ∗ $500. The deadweight loss occurs because the tax lowers the output from the competitive level. At the output level that occurs with the tax, consumers value the last unit of output by more than it costs to produce that unit.
Title: The above figure shows the demand and supply curves in the market for milk. Currently the market is ...
Post by: vinney12 on Jun 18, 2019: The above figure shows the demand and supply curves in the market for milk. Currently the market is in equilibrium. If the government establishes a $4 per gallon price support, estimate the change in p, Q, and social welfare.
Title: The above figure shows the demand and supply curves in the market for milk. Currently the market is ...
Post by: Chou on Jun 18, 2019: Price rises to $4 per gallon. Consumers purchase only 500 gallons of milk. The government purchases 1,000 gallons of milk to support the price at $4. Thus, a total of 1,500 gallons is produced. The loss in social welfare equals 1,000 gallons of milk at $4/gallon (equals $4,000) less the producer surplus above the old demand curve up to a price of $4 (which is $500). The loss in social welfare is $3,500.
Title: The above figure shows the demand and supply curves in the market for milk. Currently the market is ...
Post by: vinney12 on Jun 18, 2019: Excellent
Title: The above figure shows the demand and supply curves in the market for milk. Currently the market is ...
Post by: Chou on Jun 18, 2019: Great! Please up vote :D
Title: The above figure shows the demand and supply curves in the market for milk. Currently the market is ...
Post by: Lobcity on Jun 18, 2019: The above figure shows the demand and supply curves in the market for milk. Currently the market is in equilibrium. If the government establishes a $2 per gallon price ceiling to ensure that children are nourished, estimate the change in p, Q, and social welfare.
Title: The above figure shows the demand and supply curves in the market for milk. Currently the market is ...
Post by: Kingjoffery on Jun 18, 2019: At a price of $2, only 500 gallons are produced.
The deadweight loss equals [(1000 - 500) ∗ (4 - 2)]/2 = $500.