Enable text based alternatives for graph display and drawing entry

Try Another Version of These Questions

Question 1
The graph below shows the supply and demand curves for burritos.




Consumer, producer and total surpluses with no government price controls:

What is the size of consumer surplus when there are no government price controls? $  
 



Hint

Question 2
What is the size of producer surplus when there is no government price control? $  
 



Hint



Question 3
What is the size of the social surplus when there is no government price control? $  
 

Hint



Question 4
What is the size of the deadweight loss when there is no government price control? $  
 

Hint



Question 5
Consumer, producer and total surpluse with a binding Price Floor: What is the size of the consumer surplus when a Price Floor of $7 is imposed? $  
 

Hint



Question 6
Consumer, producer and total surpluses with a binding Price Floor: What is the size of the producer surplus when a Price Floor of $7 is imposed? $  
 

Hint



Question 7
Consumer, producer and total surpluses with a binding Price Floor: What is the size of deadweight loss from a Price Floor of $7? $  
 

Hint



Question 8
Consumer, producer and total surpluses with a binding Price Floor: What is the size of the social surplus when a Price Floor of $7 is imposed? $  
 

Hint



Question 9
What is the difference between the total surplus before and after a price control is imposed? Consider how this number compares to the deadweight loss. $  
 

Hint