Question

The table shows the demand and supply schedules for apples Suppose that the government introduces a production quota for apples and sets it at 2,500 pounds per week. Who gains and who loses? What are the market price of apples, the producer surplus, and the deadweight loss? The market price of applsisa pound. The producer surpluas is s Quantity supplied Quantity Pricedemanded ars per 3.50 5.25 7.00 8.75 10.50 pounds per week) 5,625 5,000 4,375 3,750 3,125 2.500 1,250 2,500 3,750 5,000 6.250 Answer to two decirnal places. The deacdweight lass is S Wilh a produclion quola se al 2,500 pourds a week OA. consumer surplus shrinks and consumers lose, and producer surplus increases and farmers gain O B. bolh consumers and farmers gain because the price of apples rises O C. both consumers and farmers lose because a deadweight lass arises O D. produoor surplus shrinks and farmers losc, and consumer surplus incroascs and consumers gain

Answer 1

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