Consider a market where supply and demand are given by st =16 + px and de = 92 - zpx suppose the governmentimposes a price floor of s40, and agrees to purchase any and all units consumers do not buy at the floor price of $40 perunita. determine the cost to the government of buying firms' unsold units. b. compute the lost social welfare (deadweig ht loss) that stems from the $40 price floor.

A.j. was a newly hired attorney for idle time gaming, inc. even though he reported directly to the president of the company, a.j. noticed that the president always had time to converse with the director of sales, calling on him to get a pulse on legal/regulatory issues that, as the company attorney, a.j. could have probably handled. a.j. also noted that the hr manager’s administrative assistant was the go-to person for a number of things that would make life easier at work. a.j. was recognizing the culture at idle time gaming.

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Trade will take place: a. if the maximum that a consumer is willing and able to pay is less than the minimum price the producer is willing and able to accept for a good. b. if the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good. c. only if the maximum that a consumer is willing and able to pay is equal to the minimum price the producer is willing and able to accept for a good. d. none of the above.