Using the graph above, shade in the deadweight loss when a price ceiling of $10 is imposed in the market for AA batteries, and then calculate the amount of the deadweight loss.

 

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The table below shows the market for AA batteries in Tulsa, Oklahoma when tornadoes threaten the area. Market for AA Batteries with Tornado Threat Quantity of Quantity of Batteries Demanded Batteries Supplied Price (dollars) (packages) (packages) $15 40 100 13 50 80 11 60 60 70 40 80 20 90 0 Market for Batteries Price (dollars) 20 15 10 5 9 7 5 S PC D 0 10 20 30 40 50 60 70 80 90 100110 Quantity (packages) Tools DWL The table below shows the market for AA batteries in Tulsa, Oklahoma when tornadoes threaten the area. Market for AA Batteries with Tornado Threat Quantity of Quantity of Batteries Demanded Batteries Supplied Price (dollars) (packages) (packages) $15 40 100 13 50 80 11 60 60 70 40 80 20 90 0 Market for Batteries Price (dollars) 20 15 10 5 9 7 5 S PC D 0 10 20 30 40 50 60 70 80 90 100110 Quantity (packages) Tools DWL

Answer rating: 100% (QA)

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