Use the following graph of the college football labor market for the next 6 questions. W $300 240- 180- 150- 120- 90- 60
Posted: Wed Jul 06, 2022 6:20 am
- Use The Following Graph Of The College Football Labor Market For The Next 6 Questions W 300 240 180 150 120 90 60 1 (25.84 KiB) Viewed 11 times
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Question 2 What is the wage in the college football market at the competitive equilibrium? Hint: enter your answer with no $ sign Example: if the answer is $4,000, enter 4,000 Question 3 3 pts What is producer surplus at the competitive equilibrium? Hint: enter your answer with no $ sign. Example: if the answer is $4,000, enter 4,000 3 pts
D Question 4 Assume the NCAA implements a price ceiling of $90 and there is no quality waste. This will result in a _______ of college football players, shortage; 700 surplus; 700 shortage: 1050 surplus; 1050 Question 5 Assume the NCAA implements a price ceiling of $90 and there is no quality waste. What is consumer surplus with a price ceiling of $90? Hint: enter your answer with no commas or $ sign 1000 200 4 pts 4 pts
D Question 6 Assume the NCAA implements a price ceiling of $90 and there is no quality waste. What is deadweight loss with a price ceiling of $90? Hint: enter your answer with no commas or $ sign Example: if the answer is $4,000, enter 4000 Question 7 4 pts Hint: enter your answer with no commas or $ sign Example: if the answer is $4,000, enter 4000 4 pts Assume the NCAA implements a price ceiling of $90 and there is now quality waste. What is the amount of quality waste with a price ceiling of $90?