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The graph below depicts the market for blueberries in the country of Roni. 2.0 D 1.6 1.2 Price 0.8 0.4 O 200 400 600 800
The graph below depicts the market for blueberries in the country of Roni. 2.0 D 1.6 1.2 Price 0.8 0.4 O 200 400 600 800 1000 1200 Quantity of blueberries (thousands of kilos)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 400,000 kilos. What is the maximum price at which this quantity could be sold? Round your answer to 1 decimal place. $ 1 . b) What would be the farmers' total revenue as a result of the quota? $ 400000 . c) What if this government decides, instead of using a quota, to introduce a price floor of $1 per kilo? What would be the SLrplus/shortage and the resulting total revenue of farmers? surplus v of 400000 and total revenue: $ 400000
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