Consumer and Producer Surplus

For this workbook assignment, you need to create two additional problems where the government has placed price restrictions on what would otherwise be competitive markets. You must include a price ceiling and a price floor.

1. Come up with a sentence or two explaining what is happening and why the government is getting involved. Try to be original here, even though there are only so many different times we see price floors and ceilings.

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now

2. Graph your market in the current equilibrium. Be sure you clearly label all the necessary prices and quantities on the axis. You may not use the same numbers used in the workbook, the videos, or the textbook examples.

3. Solve for original CS & PS and total market surplus.

4. Show on your graph (with a RED pencil/pen) what happens to the original CS and PS with the new price restriction (you don’t need to use the letters in your example, since you can show it graphically).

5. Answer the same questions mathematically that are asked in the workbook: What are the total dollar amounts that now correspond to the New Consumer Surplus, New Producer Surplus, area that was transferred, Dead Weight Loss, and Remaining Surplus?

"If this is not the paper you were searching for, you can order your 100% plagiarism free, professional written paper now!"

"Do you have an upcoming essay or assignment due?

Get any topic done in as little as 6 hours

If yes Order Similar Paper

All of our assignments are originally produced, unique, and free of plagiarism.