Answer to Question #90629 in Macroeconomics for Deshuan miles

Question #90629

Prove diagrammatically that a price floor reduces consumers surplus ? Please !

Expert's answer

CONSUMER OVERALL - the difference between the price that the consumer is willing to pay for the product and the one that he actually pays for the purchase.

Learn more about our help with Assignments: Macroeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Assume that both the supply of bottled water and the demand for bottled water rise during the summer
2. Explain how expectations about future sales will affect investments?
3. Find the stock of money in an economy where the velocity of money is 3, long run real output is 700,
4. Suppose the population over 15 is 20 million, the labour force Participation rate is 60%, and the un
5. 20. Which of the following would be an indication that a nation has a persistent balance of paymen
6. 19. Suppose that the exchange rate between the Fiji currency and the US dollar today is FJD 1.00 =
7. 17. The cash rate is the interest rate on A. overnight loans that banks make to each other B. long