(Figure: Quota) Refer to the graph which shows a quota at 40 units. Using the graph answer the following questions:
(a) The quota lowers the equilibrium quantity in the market by _____ units.
(b) After the implementation of the quota, what is the price that each buyer is willing to pay for each unit of the item?
(c) What is the price sellers are willing to accept (per unit) in order to supply 40 units?

Question

(Figure: Quota) Refer to the graph which shows a quota at 40 units. Using the graph answer the following questions:
  (a) The quota lowers the equilibrium quantity in the market by _____ units.
(b) After the implementation of the quota, what is the price that each buyer is willing to pay for each unit of the item?
(c) What is the price sellers are willing to accept (per unit) in order to supply 40 units?

Quizplus · Accepted Answer

The Answer of (Figure: Quota) Refer to the graph which shows a quota at 40 units. Using the graph answer the following questions:
  (a) The quota lowers the equilibrium quantity in the market by _____ units.
(b) After the implementation of the quota, what is the price that each buyer is willing to pay for each unit of the item?
(c) What is the price sellers are willing to accept (per unit) in order to supply 40 units?

(Figure: Quota) Refer to the Graph Which Shows a Quota