Question 9-12 total 4

Question 9 Incorrect Mark 0.00 out of 1.00 l7 Flag question The following gure shows the market for apartments in a big city. Prloe (dollars per month] Supply Demand Quantity (apartments) Suppose the government decides to set a rent ceiling of $400 per month. When the price is $400, the quantity demanded is 02 and the quantity supplied is Q1. With this price ceiling, the minimum possible deadweight loss is $[Answer]. (In decimal numbers, with two decimal places, please.) Answer: 30000.00 x Question 10 Not complete Marked out of 1.00 \\v Flag question Continue with the $400 price ceiling. Consider two alternative ways of allocating the apartments when a shortage is present: bribery and waiting in line. Assume the perunit cost of waiting time is same for all buyers, then the difference between the total social welfares under the two scenarios is $[Answer]. (In decimal numbers, with two decimal places, please.) Question 11 Not complete Marked out of1.00 \\V Flag question Continue with the $400 price ceiling. There will be a shortage of [Answer] apartments. (In decimal numbers, with two decimal places, please.) Question 12 Not complete Marked out of 1.00 V Flag question Assume that the consumption is automatically allocated to the highestvaluation consumers. The consumer surplus after the price ceiling is enforced is $[Answer]. (In decimal numbers, with two decimal places, please.)