{"id":106495,"date":"2022-01-27T16:31:45","date_gmt":"2022-01-27T16:31:45","guid":{"rendered":"https:\/\/essayparlour.com\/paperhelp\/?p=106495"},"modified":"2022-01-27T16:31:45","modified_gmt":"2022-01-27T16:31:45","slug":"p-2-3","status":"publish","type":"post","link":"https:\/\/essayparlour.com\/paperhelp\/economics\/p-2-3\/","title":{"rendered":"P\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12  Qs\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 100 \u00a0\u00a0\u00a0\u00a0\u00a0 200 \u00a0\u00a0\u00a0\u00a0 \u00a0 300 \u00a0\u00a0\u00a0 \u00a0\u00a0 400 \u00a0\u00a0\u00a0\u00a0\u00a0 500 \u00a0\u00a0 \u00a0\u00a0 600 \u00a0\u00a0 \u00a0 \u00a0 700 \u00a0\u00a0\u00a0\u00a0\u00a0 800 \u00a0\u00a0\u00a0\u00a0 \u00a0 900 \u00a0\u00a0\u00a0 \u00a0 \u00a0"},"content":{"rendered":"<table style = 'table-striped table-bordered table-hover' responsive='true'>\n<tr>\n<th>Question<\/th>\n<\/tr>\n<tr>\n<td>   P\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12  Q s 100 \u00a0\u00a0\u00a0\u00a0\u00a0 200 \u00a0\u00a0\u00a0\u00a0 \u00a0 300 \u00a0\u00a0\u00a0 \u00a0\u00a0 400 \u00a0\u00a0\u00a0\u00a0\u00a0 500 \u00a0\u00a0 \u00a0\u00a0 600 \u00a0\u00a0 \u00a0 \u00a0 700 \u00a0\u00a0\u00a0\u00a0\u00a0 800 \u00a0\u00a0\u00a0\u00a0 \u00a0 900 \u00a0\u00a0\u00a0 \u00a0 \u00a0 1000 \u00a0 \u00a0 \u00a0\u00a0 1100  Q D 550 \u00a0\u00a0\u00a0\u00a0\u00a0 500 \u00a0\u00a0\u00a0\u00a0 \u00a0 450 \u00a0\u00a0\u00a0 \u00a0\u00a0 400 \u00a0\u00a0\u00a0\u00a0\u00a0 350 \u00a0\u00a0 \u00a0\u00a0 300 \u00a0\u00a0 \u00a0 \u00a0 250 \u00a0\u00a0\u00a0\u00a0\u00a0 200 \u00a0\u00a0\u00a0\u00a0 \u00a0 150 \u00a0\u00a0\u00a0 \u00a0 \u00a0 100 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 50  Now imagine that there is a price ceiling on coconuts at $3 but in order to prevent wasting peoples&#8217; time by making them wait in line, the government hands out ration coupons to people.\u00a0 In order to buy a coconut you need a coupon.\u00a0 Assume that the number of coupons is the appropriate number to clear the market with the price ceiling (you should know what that is). Now notice that the government probably doesn&#8217;t know who has the highest marginal value for coconuts so, while this will eliminate the waste from the line it will most likely not allocate the coconuts efficiently.\u00a0 However, we can solve this problem by allowing people to trade the coupons!\u00a0 So imagine that there is such a market and it is perfectly competitive.  a. What will the price of a coupon be in this market?  b. Draw the price ceiling graph and identify the consumer and producer surplus, and the dead weight loss.\u00a0 There should be an area in there which would have been the cost of the line had there been a line.\u00a0 Label this area &#8220;A.&#8221;\u00a0 Who gets this surplus now?                 <\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Question<\/p>\n<p>\n   P\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 5 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 6 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 7 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 11 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 12  Q s 100 \u00a0\u00a0\u00a0\u00a0\u00a0 200 \u00a0\u00a0\u00a0\u00a0 \u00a0 300 \u00a0\u00a0\u00a0 \u00a0\u00a0 400 \u00a0\u00a0\u00a0\u00a0\u00a0 500 \u00a0\u00a0 \u00a0\u00a0 600 \u00a0\u00a0 <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-106495","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/comments?post=106495"}],"version-history":[{"count":1,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106495\/revisions"}],"predecessor-version":[{"id":106496,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/106495\/revisions\/106496"}],"wp:attachment":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/media?parent=106495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/categories?post=106495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/tags?post=106495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}