Tea in Turkey in the market respectively P = 100 - Q/100 and P = Q/100...

 

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Tea in Turkey in the market respectively P = 100 - Q/100 and P = Q/100 demand and supply equations Let's assume it is valid. a) Find the market equilibrium. Calculate their size by showing the producer and consumer residues on the graph. b) It is stated that tea producers carry out lobbying activities and that the state is 60 TL per unit. Suppose they persuaded them to apply a floor price. b1) How many units of tea do consumers buy? b2) How many units of tea does the state buy? b3) Producer and consumer residues in this case what happens? c) If it costs 10 TL per unit for Çaykur to preserve the tea, what is the total cost of the floor price application to the government? Tea in Turkey in the market respectively P = 100 - Q/100 and P = Q/100 demand and supply equations Let's assume it is valid. a) Find the market equilibrium. Calculate their size by showing the producer and consumer residues on the graph. b) It is stated that tea producers carry out lobbying activities and that the state is 60 TL per unit. Suppose they persuaded them to apply a floor price. b1) How many units of tea do consumers buy? b2) How many units of tea does the state buy? b3) Producer and consumer residues in this case what happens? c) If it costs 10 TL per unit for Çaykur to preserve the tea, what is the total cost of the floor price application to the government?

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To solve the given problem lets go through each part step by step a Find the market equilibrium and calculate producer and consumer surpluses The dema... View the full answer