What would happen to producer and consumer surplus

Assignment Help Business Economics

Reference no: EM13151949

Let's say the current administration decides to make a college education more affordable, so they establish a price ceiling of $50 per credit hour for community colleges, $75 per credit hour for four year institutions, and $100 per credit hour for graduate classes. What is a price ceiling and what effect does it have on the market? List and explain several positive and or negative consequences of this action. What would happen to producer and consumer surplus?

Reference no: EM13151949

Questions Cloud

How can corporate culture affect productivity : How can corporate culture affect productivity? What is its source of generation? Does it just emerge, or is it cultivated? How can corporate culture affect the productivity of the organization? Share your thoughts and examples.

Analysis with an elaborate instrument indicates : Analysis with an elaborate instrument indicates that substance A contains two elements. Substance B and substance C react to give a new substance D. Substance E decomposes upon heating to give substance F and substance G. Heating substance H to 10..

Monopolist is regulated to charge : Suppose the monopolist is regulated to charge a rate which covers all unit cost and total cost, what is this rate and how many units will the monopolist produce?

What is the value of the ionization constant : A 0.300 M solution of an acid, HZ, has a pH = 1.301. What is the value of the ionization constant, Ka, for this acid?

What would happen to producer and consumer surplus : What is a price ceiling and what effect does it have on the market? List and explain several positive and or negative consequences of this action. What would happen to producer and consumer surplus?

Explain double-blind randomized controlled trial : Define research question and response Take a sample of adolescents without acne Double-blind randomized controlled trial.

What is the splitting energy of this complex : The complex ion [Co(CN)3]^3- absorbs a photon of wavelength 2.90×10^2 nm. What is the splitting energy of this complex in kJ/mol?

Why the labor market is not as felxible as it used to be : Discuss several reasons why the labor market is not as felxible as it used to be? Identify and outline (in detail) the three reasons the article gives for why there might be "structural obstacles to job growth"

Itemized deduction on tax return : Real estate taxes on rental property he owns $4,000 Real estate taxes on his own residence 3,500 Federal income taxes 7,000 State income taxes 2,500 Local city income taxes 500 State sales taxes 700 What amount can Matt deduct as an itemized deduc..

User Account

All Pages