Price Floors Ouantity et laber demanded s8.75 .75 s.so 4.75 L What is the equili

Question

Price Floors Ouantity et laber demanded s8.75 .75 s.so 4.75 L What is the equilibrium wage rate 2· Ifaminimum-isset to S6.75, how much of a surplus of unemployed workers will be created Quotas | l Below are the supply and demand schedules for sugar and the corresponding supply and demand curves. Suppose a quota of 900 thousand pounds of sugar is imposed. Segar Market (U.S. Domestic Market without Sugar Quetas) Quwstity-anded Quantity supplied (theusands of peands) (per pound) 53.00 2.75 2.50 2.00 75 ,200 ,100 1,000 900 ,000 1,500 1S0 1. What is the demand price? $2 00 What is the supply price? 2. 3. How much tax revenue is collected? 00 1000 Pounds of sgar (theasands

Explanation / Answer

After tax quantity will be 900 units.

At 900 units supply price is $1.5 and demand price is $2.

Tax Revenue = Tax size*Quantity purchased after tax = 0.5*900 = $450

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.