Business, 06.02.2021 04:50 kidzay

The demand and supply functions of a product are given by the following equations: Qd =1500 - 2P and Qs = -1300 + 2P
The government announces a program to support a price increase of $30 per kg of
this grain, which imposes a price floor of $730.

What are the equilibrium price and quantity before price support policy?

What quantity of grain is purchased by the consumers, supplied by the
producers and purchased by the government at the support price?

What is the change in consumer surplus, producer surplus and total surplus?
What is the cost of government to implement this price support policy?

Later on, the government changes the price support policy and provides
subsidy of $20 per kg sold. What is the price paid by buyers, price received by
sellers, change in consumer surplus, change in producer surplus and
government cost?

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 03:00

If you were running a company, what are at least two things you could do to improve its productivity.

Answers: 1

Answer

Business, 22.06.2019 11:10

Your team has identified the risks on the project and determined their risk score. the team is in the midst of determining what strategies to put in place should the risks occur. after some discussion, the team members have determined that the risk of losing their network administrator is a risk they'll just deal with if and when it occurs. although they think it's a possibility and the impact would be significant, they've decided to simply deal with it after the fact. which of the following is true regarding this question? a. this is a positive response strategy.b. this is a negative response strategy.c. this is a response strategy for either positive or negative risk known as contingency planning.d. this is a response strategy for either positive or negative risks known as passive acceptance.

Answers: 2

Answer

Business, 22.06.2019 12:30

Sales at a fast-food restaurant average $6,000 per day. the restaurant decided to introduce an advertising campaign to increase daily sales. to determine the effectiveness of the advertising campaign, a sample of 49 days of sales were taken. they found that the average daily sales were $6,300 per day. from past history, the restaurant knew that its population standard deviation is about $1,000. if the level of significance is 0.01, have sales increased as a result of the advertising campaign? multiple choicea)fail to reject the null hypothesis.b)reject the null hypothesis and conclude the mean is higher than $6,000 per day.c)reject the null hypothesis and conclude the mean is lower than $6,000 per day.d)reject the null hypothesis and conclude that the mean is equal to $6,000 per day.expert answer

Answers: 3

Answer

Business, 22.06.2019 16:30

Why is investing in a mutual fund less risky than investing in a particular company’s stock?

Answers: 3

Answer

You know the right answer?

The demand and supply functions of a product are given by the following equations: Qd =1500 - 2P an...

Questions