Question: In the graph, the deadweight loss is: A graph titled Market for Flowers plots demand and supply curves with Quantity of bouquets (thousands) along the

In the graph, the deadweight loss is: A graph titled Market for Flowers plots demand and supply curves with Quantity of bouquets (thousands) along the horizontal axis and Price (per bouquet) along the vertical axis. The demand curve (D) has a negative slope, and the supply curve (S) has a positive slope. The curves intersect at 30 dollars per bouquet for a quantity of 60 thousand bouquets. The other points marked include 25 dollars per bouquet for a quantity of 50 thousand bouquets on the supply curve and 35 dollars per bouquet for a quantity of 50 thousand bouquets on the demand curve. The vertical distance between 25 dollars to 35 dollars is labeled as tax. $500,000. $50,000. $625,000. $100,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

2. Vertical Integration and Vertical Mergers The sandwich market is perfectly competitive. It takes both labor and a secret sauce" to make a sandwich. The sauce is produced and sold by a monopolist....

Solve all questions. A market demand and supply functions are as follows: Qd = 500 - P/4, and Qs = P/2 - 100. For parts 2-5, use ONE graph. 1. Determine the equilibrium price and quantity. 2. Graph...

A market demand and supply functions are as follows: Qd = 500 - P/4, and Qs = P/2 - 100. For parts 2-5, use ONE graph. 1. Determine the equilibrium price and quantity. 2. Graph the inverse demand and...

) A market's demand and supply functions are as follows: Qd = 300 - P/8, and Qs = P/10 - 60.For parts 2 - 5, use ONE graph. (4 points) Determine the equilibrium price and quantity. (9 points) Graph...

Consider the market for antique cars. The market price of each antique car is $140,000, and each buyer demands no more than one antique car. Suppose that Tim is the only consumer in the antique car...

Graph 1 1. Using the Google Draw tool (or any tool of your choice) to illustrate an initial market for cookies . You may also hand draw your graphs and insert the photo into your file. Neatness...

econimcs 36574 (3) Appalled by the answer to the previous questions, you set your scientists to work again. They concoct another breakthrough technology that raises medical expenditures without...

answer the following qurstions (3) Appalled by the answer to the previous questions, you set your scientists to work again. They concoct another breakthrough technology that raises medical...

question 1 Not yet answered Points out of l 00 l\" Flag question Question 2 Not yet answered PDIrltS out of l on \\7' Flag question A competitive market is one in which Select one. C a. C b,...

8. Tariffs Suppose the nation of Isoland is an importer of textiles and is looking for a way to raise government revenue. The following graph shows the effect of a tariff on textile imports. The...

Independent trials that result in a success with probability p are successively performed until a total of r successes is obtained. Show that the probability that exactly n trials are required is Use...

Enzyme-catalyzed reactions are sometimes analyzed by use of the Eadie-Hofstee plot, in which v is plotted against v/[S]o (a) Using the simple Michaelis-Menten mechanism, derive a relation between...

Find the equation of the exponential function f ( x ) = bax that goes through the points ( - 1 , 3 ) and ( 1 , 4 / 3 ) .

8. Use the Divergence Theorem to evaluate x dy dz + xy dz dx + xz dx dy, where S is the surface of the region bounded by the closed cylinder x2 + y? = a, (0

2. Evaluate . (V x F). ds, where S is the surface of the paraboloid x2 + y2 + z = 4 above the xy-plane and F = (x + y 4) i + 3 xy + (2 xz + z) k. Ans. - 4 n

Apply Divergence Theorem to evaluate (f(1x? + my? +nz?)ds 11. taken over the sphere (x a)? + (y b)? + (z c)? = r2, 1, m, n being the direction cosines of the external normal to the sphere. (I June...

Fill-in the blank. Using algebraic substitution, the f x?Vx + 3dx equals 2/(x + 3)3 +3) _ 6(x+3) |+c. +. 7 3 . x+3 . . 3 D. 3(x + 3)2

Explain each point in details Types of automation Fixed Automation: High investment, high production volume, Inflexible system 1. 2. Programmable automation: High investment in general purpose...

A pointer holds a memory address.

3. List four points that you think are important to give the individual attention, when he or she is going to sell an argument or an idea to you.

4. Think of a situation where you would convince someone of an argument or an idea you had. a. What feelings did you want the other person to be left with when you finished? b. When you think about...

7. Think of a situation where you felt that you mastered the situation, i.e. where you had a positive feeling of completing the task you were to perform. A. Now develop a picture in your imaginary...