HL - Price Controls Flashcards by Serena Latham | Brainscape

Q

Equation for original producer revenue

A

p(1) x q(1)

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Equation for new producer revenue

A

p(2) x p(3)

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Equation for new producer revenue after the subsidy and price floor

A

p(2) x q(2)

How well did you know this?

1

Not at all

2

3

4

5

Perfectly