p* = $3.50
Post on 31-Dec-2015
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EXCESS DEMAND 50. BUFFER STOCK SELLS 50. EXCESS SUPPLY 20. BUFFER STOCK BUYS 20. P = $4.00. Price Ceiling. P = $3.00. Price Floor. D’. 10. 30. 70. 120. The diagram below shows the world market for tin. P. S. P* = $3.50. D. Q. 50. TIN QUANTITY( 1000 LBS). - PowerPoint PPT Presentation
TRANSCRIPT
Trade and welfare slide 1
S
D
Q
P
50
P* = $3.50
The diagram below shows the world market for tin.
TIN QUANTITY( 1000 LBS)
10 30
Price CeilingP = $4.00
Price FloorP = $3.00
70 120
EXCESS DEMAND50
D’
BUFFER STOCKSELLS 50
EXCESS SUPPLY20
BUFFER STOCKBUYS 20
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