Figure: Allocating Goods under Price Ceilings Refer to the figure.Using the information provided in the graph,answer the following questions:
a.If the goods were allocated only to those users who had the highest-value uses,find the total dollar amount of consumer surplus.
b.If the goods are allocated randomly between the high-value uses and the low-value uses,then what is the average value of the good?
c.If goods are allocated randomly,what is the total dollar amount of consumer surplus?

Question

Figure: Allocating Goods under Price Ceilings  Refer to the figure.Using the information provided in the graph,answer the following questions:
a.If the goods were allocated only to those users who had the highest-value uses,find the total dollar amount of consumer surplus.
b.If the goods are allocated randomly between the high-value uses and the low-value uses,then what is the average value of the good?
c.If goods are allocated randomly,what is the total dollar amount of consumer surplus?

Quizplus · Accepted Answer

The Answer of Figure: Allocating Goods under Price Ceilings  Refer to the figure.Using the information provided in the graph,answer the following questions:
a.If the goods were allocated only to those users who had the highest-value uses,find the total dollar amount of consumer surplus.
b.If the goods are allocated randomly between the high-value uses and the low-value uses,then what is the average value of the good?
c.If goods are allocated randomly,what is the total dollar amount of consumer surplus?

Figure: Allocating Goods Under Price Ceilings Refer to the Figure.Using