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Now we can measure the (allocationefficiency of price controls in terms of social surplus. Please, examine each graph and consider the following questions. P Price
Now we can measure the (allocationefficiency of price controls in terms of social surplus. Please, examine each graph and consider the following questions. P Price floor above the Post your answers in P 1 Price ceiling below the S equilibrium price. this week forum. Ask for equilibrium price. S help from colleagues or G help them. The $12 instructor will post the T Price H floor correct answers at the $600 U W Price $8 end of the week. V K Tip: see slide 10 again $400 ceiling and read the textbook. X D D 1,400 1,800 Q 15,000 20,000 Q Consumer surplus before and after price floor? Consumer surplus before and after price ceiling? Producer surplus before and after price floor? Producer surplus before and after price ceiling? Social surplus before and after price floor? Social surplus before and after price ceiling? Deadweight loss after price floor? Deadweight loss after price ceiling
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