Question
a ) Suppose that in an attempt to boost the price of blueberries for its farmersthe governmeat of Roni Introduces a quota that limits the
a ) Suppose that in an attempt to boost the price of blueberries for its farmersthe governmeat of Roni Introduces a quota that limits the total amount that farmers can sell to 400, 000 kilos What is the maximum price at which this quantity could be sold? Round your answer to 1 decimal place $ b) What would be the farmers total revenue as a result of the quota? What if this government decides, instead of using a quota to introduce a price floor of 1.4 per kilo? What would be the surplus/shortage and the resulting total revenue of farmers? Surplus/shortage of ______total revenue :
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