Price Ceiling & Economic Welfare Worksheet

Grade Levels
Resource Types
Product Rating
4.0
File Type
PDF (Acrobat) Document File
Be sure that you have an application to open this file type before downloading and/or purchasing.
0.43 MB   |   3 pages

PRODUCT DESCRIPTION

This worksheet requires students to examine the economic impact of applying a binding price ceiling in the market for gasoline as well as to calculate and compare the resulting amount of economic welfare generated by such a policy.

After completing this worksheet, students will be able to:

-Identify the areas representing consumer, producer, and economic surplus in addition to deadweight loss.
-Calculate the values for consumer, producer, and economic surplus.
-Identify whether a price control acts as a price ceiling or a price floor.
-Identify the economic impact of applying a binding price ceiling on the price and quantity of a product exchanged.
-Compare the distributional effects of enacting a binding price control.
-Illustrate the impact of imposing a price floor on the market for milk.
Total Pages
3
Answer Key
Included
Teaching Duration
45 Minutes

Average Ratings

4.0
Overall Quality:
4.0
Accuracy:
4.0
Practicality:
4.0
Thoroughness:
4.0
Creativity:
4.0
Clarity:
4.0
Total:
2 ratings
COMMENTS AND RATINGS:
Please log in to post a question.
PRODUCT QUESTIONS AND ANSWERS:
$2.99
Digital Download
ADD ONE TO CART
User Rating: 4.0/4.0
 (40 Followers)
$2.99
Digital Download
ADD ONE TO CART
Price Ceiling & Economic Welfare Worksheet
Price Ceiling & Economic Welfare Worksheet
Price Ceiling & Economic Welfare Worksheet
Price Ceiling & Economic Welfare Worksheet