Completed quickly and followed instructions given. Grammar, spelling, etc. was all good as well. Thank you so much! Will hire in the future.
Use this link to answer the following questions.
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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