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Welcome to the Q&A for ECN/APEC 2010, where you can ask questions and receive answers from your fellow students, the TA, and your professor.

Please only ask questions about the material for the course. Try to create discussions about the material we see in class, instead of just thinking of economics in general (this is an introduction to microeconomics class, not a policy or government class).

For questions and discussions about course organization or other course related topics, come see us after class or during office hours.

Feel free to discuss quiz questions on the Q&A, but do not provide direct answers to quiz questions before the quiz's due date.

Practice Quiz 8

+1 vote
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(Figure: Water Market) Refer to the figure: If a price floor in the diagram gets set at $8 a gallon, what is the deadweight loss? 

image

asked Apr 29 by canvas-0beab539b2710 (387 points)

1 Answer

0 votes
The answer is $30,000 in deadweight loss. Don't ask me how I know, I spent at least 20 minutes on this question and got different answers every time.
answered Apr 29 by canvas-e25408d8f8d15 (216 points)
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