Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. economics
  3. if demand for toys is qd = 500 – 10p and su

If demand for toys is QD = 500 – 10P and supply is Qs =...

90.2K

Verified Solution

Question

Economics

If demand for toys is QD = 500 – 10P and supply is Qs = 100 +10P, answer the following questions using calculus:

a. If the government imposes a restriction that price per toycannot exceed $15, calculate the ΔCS, ΔPS, and DWL from the priceceiling.

b. If the government imposes a restriction that price per toycannot be lower than $18, calculate the ΔCS, ΔPS, and DWL from theprice floor.

c. If the government promises toy producers a price of $25 perunit and will buy up any excess supply to support that price,calculate the ΔCS, ΔPS, and DWL from the price support.

d. If the government promises toy producers a price of $22 perunit and will pay the difference between $22 and the priceproducers receive from consumers, calculate the ΔCS, ΔPS, and DWLfrom the price support.

Answer & Explanation Solved by verified expert
3.9 Ratings (524 Votes)
    See Answer
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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A basketball team sells tickets that cost? $10, $20,? or, for VIP? seats,? $30. The team...

Statistics
Q

The following table shows ceremonial ranking and type of pottery sherd for a random sample of...

Basic Math
Q

The highest rate of loading in Fx (medial-lateral force) would likely be associated with whichof...

Biology
Q

The following information must be stamped on the cylinder O DOT specification and serial number...

Biology
Q

30 30 1 0 0 m 4 kg 6 Two masses m 4 kg and...

Physics
Q

Write the equation of a sinusoidal graph with the following properties 2 A 3 period...

Calculus
Q

Please indicate correct answer only no explanations ...

Accounting
Q

A completed worksheet for The Best Group is given below. ...

Accounting
Q

On 1 July 2019, Diana Ltd acquired 100% of the issued shares of...

Accounting
Q

A company is well-designed when it can react quickly to changes in market demand for...

Accounting
Q

James Company began the month of October with inventory of $33,000. The following inventory transactions...

Accounting
Q

Which of the following is the least useful in reducing the risk of unauthorised distribution...

Accounting