1 . First Position the demand using the slide so it’s endpoints are 1 0 , 35 and 35 , 0 ) . 2 . `Now click on supply point B red dot so it rests on a…

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1 . First Position the demand using the slide so it’s endpoints are 1 0 , 35 and 35 , 0 ) .2 .`Now click on supply point B red dot so it rests on a quantity of 40 at a P = 30 And the origin10, 0 )The equilibrium price is ? S4 .The equilibrium quantity is5 .Consumer surplus at this equilibrium is equal to S5 .Producer surplus at this equilibrium is equal to $7 . Place a price floor at a price of $25 .8 .How many units will be purchased at the price floor of $25 ?)9 . The consumer surplus after the implementation of the price floor has now become S10 . There has been aln ) ( increase , decrease ) of consumer surplus of $11 . Producer surplus after the implementation of the price floor has become’S12 . There has been a(n ) ( increase , decrease ) of producer surplus of $13 . Social surplus after the implementation of the price floor is $14 . The dead weight loss of the price floor is 5Shift in demandSuppose that demand decreases to the points ( $25, 0) and 1 0, 25 )15 . The new equilibrium price is $and the new equilibrium quantity is16. Consumer surplus at this equilibrium is equal to S17. Producer surplus at this equilibrium is equal to $18 . Compare the consumer , producer and social surplus between the original equilibrium and afterthe shift in demand .

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