{"id":7455,"date":"2021-10-13T05:16:22","date_gmt":"2021-10-13T05:16:22","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/consider-a-market-where-supply-and-demand-are-given-by-qxs\/"},"modified":"2021-10-13T05:16:22","modified_gmt":"2021-10-13T05:16:22","slug":"consider-a-market-where-supply-and-demand-are-given-by-qxs","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/consider-a-market-where-supply-and-demand-are-given-by-qxs\/","title":{"rendered":"Consider a market where supply and demand are given by qxs"},"content":{"rendered":"<div>\n<p>Consider a market where supply and demand are given by QXS = -16 + PX and QXd = 92 &#8211; 2PX. Suppose the government imposes a price floor of $40, and agrees to purchase any and all units consumers do not buy at the floor price of $40 per unit.<\/p>\n<p>a. Determine the cost to the government of buying firms\u2019 unsold units.<\/p>\n<p>$<\/p>\n<p>b. Compute the lost social welfare (deadweight loss) that stems from the $40 price floor.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Consider a market where supply and demand are given by QXS = -16 + PX and QXd = 92 &#8211; 2PX. Suppose the government imposes a price floor of $40, and agrees to purchase any and all units consumers do not buy at the floor price of $40 per unit. a. Determine the cost to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-7455","post","type-post","status-publish","format-standard","hentry","category-homework-help"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/7455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=7455"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/7455\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=7455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=7455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=7455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}