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a) Suppose that in an attempt to boost the price of blueberries for its farmers, the government of Roni introduces a quota that limits the
a) Suppose that in an attempt to boost the price of blueberries for its farmers, the government of Roni introduces a quota that limits the total amount that farmers can sell to 500, 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? $ . c) What if this government decides, instead of using a quota, to introduce a price floor of $1.1 per kilo? What would be the surplus/shortage and the resulting total revenue of farmers? (Click to select) of and total revenue: $
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