Macroeconomics
If the demand curve is P = 180 - 6Q and the price is set at 60, what is the consumer surplus?
If the demand curve is represented by P = 100 - 2Q and the price is set at 40, what is the consumer surplus?
What happens to producer surplus when a price floor is set above the equilibrium price?
A price floor is set above the equilibrium price, resulting in a deadweight loss. Which of the following best describes this loss?
When calculating the area of producer surplus under a price floor, which geometric shapes are typically used?
What is consumer surplus?
What happens to consumer surplus when a price floor is set above the equilibrium price?
Why is a price floor set above the equilibrium price considered effective?
On a graph, where is producer surplus located when a price floor is imposed?
What is the primary difference in the effects of price ceilings and floors on market equilibrium?
