Question
I am confusing about (L) to (O) Suppose there were a price floor in the market for trash pickup equal to $15 per ton. I)
I am confusing about (L) to (O)
Suppose there were a price floor in the market for trash pickup equal to $15 per ton.
I) Whats the price of trash pickup with this price floor? __________
J) How many tons of trash are picked up with this price floor? __________
K) Whats the consumer surplus given your answers to parts G through J? __________
L) Whats the largest possible producer surplus given your answers to parts G through J? __________
M) Whats the smallest possible deadweight loss given your answers to parts G through J? __________
N) Whats the smallest possible producer surplus given your answers to parts G through J? __________
O) Whats the largest possible deadweight loss given your answers to parts G through J? _
\begin{tabular}{|c|c|} \hline Households (demanders) & Marginal benefit (\$/ton) \\ \hline Alex & 27 \\ \hline Betty & 24 \\ \hline Claude & 21 \\ \hline Dannie & 18 \\ \hline Enrique & 15 \\ \hline Fernanda & 12 \\ \hline Gerry & 9 \\ \hline Helen & 6 \\ \hline Igor & 3 \\ \hline Jacque & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline Trash haulers (suppliers) & Marginal cost (\$/ton) \\ \hline Zack & 7 \\ \hline Yvette & 8 \\ \hline Xander & 9 \\ \hline Winnie & 10 \\ \hline Vick & 11 \\ \hline Ursula & 12 \\ \hline Teddy & 13 \\ \hline Sara & 14 \\ \hline Ricky & 15 \\ \hline Quinn & 16 \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline Households (demanders) & Marginal benefit (\$/ton) \\ \hline Alex & 27 \\ \hline Betty & 24 \\ \hline Claude & 21 \\ \hline Dannie & 18 \\ \hline Enrique & 15 \\ \hline Fernanda & 12 \\ \hline Gerry & 9 \\ \hline Helen & 6 \\ \hline Igor & 3 \\ \hline Jacque & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline Trash haulers (suppliers) & Marginal cost (\$/ton) \\ \hline Zack & 7 \\ \hline Yvette & 8 \\ \hline Xander & 9 \\ \hline Winnie & 10 \\ \hline Vick & 11 \\ \hline Ursula & 12 \\ \hline Teddy & 13 \\ \hline Sara & 14 \\ \hline Ricky & 15 \\ \hline Quinn & 16 \\ \hline \end{tabular}Step by Step Solution
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