Use the following graph to answer Questions 17-20.  Assume the demand curve intercepts the y-axis at $4.00.Â
 Question 17
Compute the number of units purchased and the price at which those units will be exchanged when there is a $3 per unit price floor.
Â
a.35 units and $2.50 per unit
b.35 units and $3.00 per unit
c.50 units and $2.50 per unit
d.50 units and $3.00 per unit
e.30 unit and $2.50 per unit
f.30 unit and $3.00 per unit
Â
Question 18
A $3 per unit price floor will result in a
Â
a.Shortage of 30 unit
b.Surplus of 30 units
c.Shortage of 35 units
d.Surplus of 35 units
e.Shortage of 65 units
f.Surplus of 65 units
Â
Question 19
Compute the surplus consumers received when an $3 per unit price floor is imposed on the market.
Â
a.$17.50
b.$35.00
c.$37.50
d.$75.00
Question 20
Compute the dead weight loss when an $3 per unit price floor is imposed on the market.
Â
a.$7.50
b.$15.00
c.$15.50
d.$35
e.
$37.50
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Posted 22 Jun 2017 03:06 AM
My Price 7.00
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