ECON 1050 Final: Fall_1050__MockFinal
20 Feb 2019
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The supply and demand schedules for dozens of roses are given below: The equilibrium price for a dozen roses is: , , , , . At a price of per box she sold 40 boxes per day. When the price was reduced to per box she sold 100 boxes per day. The diagram below shows supply, demand, and quantity exchanged of monday matinee movie tickets. Assume it is a perfectly competitive market: refer to figure 12-4. Suppose a disequilibrium price of . 50 per movie ticket is imposed in this market. The consumer surplus becomes ________ and the producer surplus becomes ________. Figure 12-4: . 50; . 50, . 50; , . 50; , . 25; . 25, sh; . 50, refer to figure 12-4. Suppose a disequilibrium price of . 50 per movie ticket is imposed on this market. Recently there have been proposals that a tax be imposed on sugar-laden soft drinks in an attempt to reduce their consumption.
