. The supply function in the market for LA Lakers tickets is Q = P 10...
. The supply function in the market for LA Lakers tickets is Q =
P 10 and the inverse demand
function is P = 40 2Q. Ticket sellers are having a hard time
selling LA Lakers tickets so the
California government steps in to subsidize ticket sales by 6
dollars per ticket. What is the resulting
consumer surplus?
(a) 72
(b) 100
(c) 144
(d) 50
Anser: C,144
Cloud you please explan with working steps and graph please?
Homework Answers
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. The supply function in the market for LA Lakers tickets is Q =
P 10...
The market supply function is P = 10 + Q and the market demand function is...
The market supply function is P = 10 + Q and the market demand function is P = 70 - 2Q. What is the change in consumer surplus associated with a minimum floor price of $40? A) -$25 B) -$150 C) -$175 D) -$200 Please provide a explanation! thank you!
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usion (24 points) Two firms are playing a repeated Bertrand game infinitely, each with the same marginal cost 100. The market demand function is P-400-Q. The firm who charges the lower price wins the whole market. When both firms charge the same price, each gets 1/2 of the total market. I. Coll A. (6 points) What price will they choose in the stage (only one period) Nash equilibrium? What price will they choose if in the stage game (only one...
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