Hi studypool. I’m looking for the best microeconomic professor, who can go through all of the powerpoint and answer the questions correctly. This is really important to me, so please do not plagiarism from other work.
Here are the questions:
1) What is the difference between price ceiling and price floor? When do they become binding and when they become non binding?
2) What happens when the taxes are imposed on buyers as compared to taxes are imposed on sellers? Which party bears the maximum burden of tax?
3) What is consumer surplus and how do we calculate it? What happens to the consumer surplus when the price increases and decreases?
4) What is producer surplus and how do we calculate it? What happens to the producer surplus when the price increases and decreases?
5) How do we calculate total surplus when there is no government intervention?
Answer them to word please. Below I attached with 2 chapter powerpoint.