6 Supply, Demand, and Government Policies. Figure 1

Figure 1 A Market with a Price Ceiling (1) (a) A price ceiling that

Figure 1 A Market with a Price Ceiling (2) (b) A price ceiling that

Figure 2 Rent Control in the Short Run and in the Long Run (1)

Figure 2 Rent Control in the Short Run and in the Long Run (2)

Figure 3 A Market with a Price Floor (1) (a) A Price Floor That

Figure 3 A Market with a Price Floor (2) (b) A price floor that

Figure 4 How the Minimum Wage Affects the Labour Market (1) Quantity of labour

Figure 4 How the Minimum Wage Affects the Labour Market (2) Quantity of labour

Figure 4 How the Minimum Wage Affects the Labour Market (3) Copyright © 2011

Figure 4 How the Minimum Wage Affects the Labour Market (4) Copyright © 2011

Figure 5 A Tax on Sellers Quantity of ice cream cornets 0 Price of

Figure 6 A Payroll Tax Quantity of labour 0 Wage Copyright © 2011 Cengage

Figure 7 How the Burden of a Tax Is Divided (1) Quantity 0 Price

Figure 7 How the Burden of a Tax Is Divided (2) Quantity 0 Price

Figure 8 A Subsidy on Rail Transport Copyright © 2011 Cengage Learning

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>6 Supply, Demand, and Government Policies 6 Supply, Demand, and Government Policies

>Figure 1 A Market with a Price Ceiling (1) (a) A price ceiling that Figure 1 A Market with a Price Ceiling (1) (a) A price ceiling that is not binding Quantity of ice cream cornets 0 Price of ice cream cornet Copyright © 2011 Cengage Learning

>Figure 1 A Market with a Price Ceiling (2) (b) A price ceiling that Figure 1 A Market with a Price Ceiling (2) (b) A price ceiling that is binding Quantity of ice cream cornets 0 Price of ice cream cornet Copyright © 2011 Cengage Learning

>Figure 2 Rent Control in the Short Run and in the Long Run (1) Figure 2 Rent Control in the Short Run and in the Long Run (1) (a) Rent control in the short run (supply and demand are inelastic) Quantity of apartments 0 Rental price of apartment Copyright © 2011 Cengage Learning

>Figure 2 Rent Control in the Short Run and in the Long Run (2) Figure 2 Rent Control in the Short Run and in the Long Run (2) (b) Rent control in the long run (supply and demand are elastic) 0 Rental price of housing unit Quantity of housing units Copyright © 2011 Cengage Learning

>Figure 3 A Market with a Price Floor (1) (a) A Price Floor That Figure 3 A Market with a Price Floor (1) (a) A Price Floor That Is Not Binding Quantity of ice cream cornets 0 Price of ice cream cornet Copyright © 2011 Cengage Learning

>Figure 3 A Market with a Price Floor (2) (b) A price floor that Figure 3 A Market with a Price Floor (2) (b) A price floor that is binding Quantity of ice cream cornets 0 Price of ice cream cornet Copyright © 2011 Cengage Learning

>Figure 7 How the Burden of a Tax Is Divided (1) Quantity 0 Price Figure 7 How the Burden of a Tax Is Divided (1) Quantity 0 Price (a) Elastic supply, inelastic demand Copyright © 2011 Cengage Learning

>Figure 7 How the Burden of a Tax Is Divided (2) Quantity 0 Price Figure 7 How the Burden of a Tax Is Divided (2) Quantity 0 Price (b) Inelastic supply, elastic demand Copyright © 2011 Cengage Learning