chap_06supply,demandandgovernmentpolicies(曼昆-全文預(yù)覽
【正文】 g gas lines? Economists blame government regulations that limited the price oil panies could charge for gasoline. The Price Ceiling on Gasoline Is Not Binding... $4 P1 Quantity of Gasoline 0 Price of Gasoline Q1 Demand Supply Price ceiling 1. Initially, the price ceiling is not binding... The Price Ceiling on Gasoline Is Binding... P1 Quantity of Gasoline 0 Price of Gasoline Q1 Demand S1 Price ceiling S2 2. … but when supply falls... P2 3. … the price ceiling bees binding... 4. … resulting in a shortage. Rent Control ?Rent controls are ceilings placed on the rents that landlords may charge their tenants. ?The goal of rent control policy is to help the poor by making housing more affordable. ?One economist called rent control “the best way to destroy a city, other than bombing.” Rent Control in the Short Run... Quantity of Apartments 0 Rental Price of Apartment Demand Supply Controlled rent Shortage Supply and demand for apartments are relatively inelastic Rent Control in the Long Run... Quantity of Apartments 0 Rental Price of Apartment Demand Supply Controlled rent Shortage Because the supply and demand for apartments are more elastic... … rent control causes a large shortage Price Floors When the government imposes a price floor, two outes are possible. ?The price floor is not binding if set below the equilibrium price. ?The price floor is binding if set above the equilibrium price, leading to a surplus. A Price Floor That Is Not Binding... $3 Quantity of IceCream Cones 0 Price of IceCream Cone 100 Equilibrium quantity Equilibrium price Demand Supply Price floor 2 A Price Floor That Is Binding... $3 Quantity of IceCream Cones 0 Price of IceCream Cone Equilibrium price Demand Supply Price floor $4 120 Quantity supplied 80 Quantity demanded Surplus Harcourt, Inc. items and derived items copyright 169。 2023 by Harcourt, Inc. A Price Ceiling That Is Binding... $3 Quantity of IceCream Cones 0 Price of IceCream Cone 2 Demand Supply Equilibrium price Price ceiling Shortage 125 Quantity demanded 75 Quantity supplied Harcourt, Inc. items and derived items copyright 169。 2023 by Harcourt, Inc. All rights reserved Quantity of IceCream Cones 0 Price of IceCream Cone 100 90 $ Price buyers pay D1 D2 Equilibrium with tax Supply, S1 Equilibrium without tax Impact of a 50162。 2023 by Harcourt, Inc. All rights reserved A tax on sellers shifts the supply curve upward by the amount of the tax ($). Tax ($) Equilibrium with tax A Payroll Tax Quantity of Labor 0 Wage Wage without tax Labor demand Labor supply Tax wedge Wage firms pay Wage workers
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