As you progress through the tutorial, the question sequences will become available. You must complete all the question sequences to receive credit for this tutorial.
Tutorial
Econ Tutorial
Government Policies
As you progress through the tutorial, the question sequences will become available. You must complete all the question sequences to receive credit for this tutorial.
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Question 1 of 1
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Based on the graph above, what is the size of the shortage (or surplus) if the price is $3?
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Question 1 of 1
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Based on the graph above, identify the area of deadweight loss if a price ceiling of $3 is imposed.
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Question 1 of 2
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Based on the graph above, what is the size of the shortage (or surplus) if a price floor is $7 is imposed?
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Based on the graph above, identify the area of deadweight loss if a price floor of $7 is imposed.
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Question 1 of 2
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Based on the graph above, how large is the quota rent (the “wedge”) if the government sets a quantity limit (quota) of 2 on this good?
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Based on the graph above, how large is the deadweight loss if the government sets a quantity limit (quota) of 2 on this good?
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Question 1 of 2
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Based on the graph above, who bears the greater burden of the tax?
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Based on the graph above, who bears the greater burden of the tax?
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Question 1 of 1
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9
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Based on the graph above, what is the price that consumers pay and what is the price that producers pay if a tax of $4 is imposed?
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Question 1 of 3
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Based on the graph above, what is the area of government revenue from the tariff? Assume that Pw is the world price (with no tariff) and Pt is the price after a tariff is imposed.
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Based on the graph above, what is the amount of government revenue from the tariff? Assume that Pw is the world price (with no tariff) and Pt is the price after a tariff is imposed.
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Based on the graph above, what is the area of area of deadweight loss from the tariff? Assume that Pw is the world price (with no tariff) and Pt is the price after a tariff is imposed.
