Homework Answers
Answer
with trade, the price is equal to world price and that is $11
where
Qd=520
CS =area above price and blow demand curve
=0.5*( Y-axis intercept of the demand curve -P)*Qd
=0.5*(37-11)*520
=6760
the consumer surplus is $6760
Option c
1 Price + + + + + Dores Suppl + + + + + + +...
1 Price + + + + + Dores Suppl + + + + + + + Wozle price + + + Domes Demar + + + + + + + + + + + + 40 80 120 160 200 240 280 320 360 400 440 430 520 560 600 fer to Figure 9-5. With trade, total surplus is a. $3,240. b. S6,480. c. $7,760. d. $15,520.
Figure 9-5 The figure illustrates the market for tricycles in a country I Price &%83&* Domestic...
Figure 9-5 The figure illustrates the market for tricycles in a country I Price &%83&* Domestic Supply B World price a Domesta Demand 40 80 120 100 200 240 250 320 30 400 440 480 320 100 600 g N Refer to Figure 9-5. With trade, total surplus is O a. $3,240 O . 56,480 0 287,760 +++ + NAGB +++++++++ Refer to Figure 9-5. With trade, total surplus is O a. $3,240. O b. $6,480 O c. $7,760. O...
(Gallons) (Dollars per gallon) (Dollars) 0 36 0 40 33 1,320 2.400 80 30 120 27...
(Gallons) (Dollars per gallon) (Dollars) 0 36 0 40 33 1,320 2.400 80 30 120 27 3,240 3,840 160 24 200 21 4,200 240 18 4,320 280 15 4,200 320 12 3,840 360 9 3.240 400 6 2.400 440 3 1.320 480 0 0 Refer to Table 17.1. Suppose the town enacts new antitrust laws that prohibit Celia and Venya from operating as a monopoly. How many gallons of water will be produced and sold once Celia and Venya reach...
anw please thx T Price Domestic Supply ++ ++++ XBXXXXXXXX ++++++++++++++++ +++++++++++ World price Domestic s...
anw please
thx
T Price Domestic Supply ++ ++++ XBXXXXXXXX ++++++++++++++++ +++++++++++ World price Domestic s Demand L + + + + + + + + + + + + + + + + + 40 + 80 + 120 + 160 200 + 240 + 280 + 320 360 + 400 + 440 + 480 + 520 + 560 + 600 + + Quantity N Refer to Figure 9-5. With trade, the price of tricycles in this country is...
Consider the Sudanese market for tangerines The following graph shows the domestic demand and domestic supply...
Consider the Sudanese market for tangerines The following graph shows the domestic demand and domestic supply curves for tangerines in Sudan. Suppose Sudan's government currently does not allow international trade in tangerines Use the black point (plus symbol) to indicate the equilibrium price of a ton of tangerines and the equilibrium quantity of tangerines in Sudan in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use...
& 9 2 4 6 8 10 12 14 16 18 20 22 24 26 28...
& 9 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 Quant Refer to Figure 9-1. When trade in coffee is allowed, consumer surplus in Guatemala a. increases by the area B+D. D b. increases by the area C+F. O c. decreases by the area B-D. d. decreases by the area D-G con Key Question 18 of 20 ) Submit Assignment for Grading...
40 38 36 34 32 30 28 26 84 22 16 ад 12 10 8 6...
40 38 36 34 32 30 28 26 84 22 16 ад 12 10 8 6 4 2 0 28 30 32 34 Pizza 18 20 0 2 4 6 10 12 14 16 22 24 26 2. a) Suppose Wolfie has an income of $24, that Ppizza = $2, and that Psoda budget constraint in the above figure. What is the opportunity cost of one more slice of pizza? = $2. Draw Wolfies b) At this income and prices,...
Figure 84 The vertical distance between points A and B represents a tax in the market...
Figure 84 The vertical distance between points A and B represents a tax in the market Supply • 0 0 0 0 0 0 0 0 0 0 0 blolololo Demand 65 10 15 0.6 Dati Refer to Figure 8-4. The amount of tax revenue received by the government is equal to a. $245. b. $350 c. $490. d. $700 Figure 2-10 oooooo Panel (a) Panel (b) XXRRASS Refer to Figure 2.10, Panel(a). The movement from point to point could...
Cost ATC AVC P GON Demand MR 88 80 4 72 6 8 10 14 16 18 20 22 24 26 28 30 32 34 36 38 40 00 18.84 17.78 16.78 15.8...
Cost ATC AVC P GON Demand MR 88 80 4 72 6 8 10 14 16 18 20 22 24 26 28 30 32 34 36 38 40 00 18.84 17.78 16.78 15.84 15.00 14.24 13.58 12.90 12.44 12.00 11.64 11.38 11.16 11.04 11.00 11.04 11.16 11.38 11.84 12.00 12.44 12.98 MC 20.00 17.72 15.68 13.88 12.32 11.00 9.92 9.08 8.48 8.12 8.00 8.12 8.48 9.08 9.92 11.00 12.32 13.88 15.68 17.72 20.00 22.52 25.28 96.59 58.64 42.68 35.28 30.55...
Price Osup 120 14 140 18 160 22 180 26 200 30 220 34 240 38...
Price Osup 120 14 140 18 160 22 180 26 200 30 220 34 240 38 Qdem 30 26 22 18 14 10 8 1. Calculate the elasticity of demand at the current equilibrium price and indicate if this is elastic or inelastic. 2. If the government placed a $10 tax on the production of this item, would the producer or the consumer absorb the larger portion of this fee?. 3. On average, young single men earning $40,000 per year...
1 Price + + + + + Dores Suppl + + + + + + + Wozle price + + + Domes Demar + + + + + + + + + + + + 40 80 120 160 200 240 280 320 360 400 440 430 520 560 600 fer to Figure 9-5. With trade, total surplus is a. $3,240. b. S6,480. c. $7,760. d. $15,520.
Figure 9-5 The figure illustrates the market for tricycles in a country I Price &%83&* Domestic Supply B World price a Domesta Demand 40 80 120 100 200 240 250 320 30 400 440 480 320 100 600 g N Refer to Figure 9-5. With trade, total surplus is O a. $3,240 O . 56,480 0 287,760 +++ + NAGB +++++++++ Refer to Figure 9-5. With trade, total surplus is O a. $3,240. O b. $6,480 O c. $7,760. O...
(Gallons) (Dollars per gallon) (Dollars) 0 36 0 40 33 1,320 2.400 80 30 120 27 3,240 3,840 160 24 200 21 4,200 240 18 4,320 280 15 4,200 320 12 3,840 360 9 3.240 400 6 2.400 440 3 1.320 480 0 0 Refer to Table 17.1. Suppose the town enacts new antitrust laws that prohibit Celia and Venya from operating as a monopoly. How many gallons of water will be produced and sold once Celia and Venya reach...
anw please
thx
T Price Domestic Supply ++ ++++ XBXXXXXXXX ++++++++++++++++ +++++++++++ World price Domestic s Demand L + + + + + + + + + + + + + + + + + 40 + 80 + 120 + 160 200 + 240 + 280 + 320 360 + 400 + 440 + 480 + 520 + 560 + 600 + + Quantity N Refer to Figure 9-5. With trade, the price of tricycles in this country is...
Consider the Sudanese market for tangerines The following graph shows the domestic demand and domestic supply curves for tangerines in Sudan. Suppose Sudan's government currently does not allow international trade in tangerines Use the black point (plus symbol) to indicate the equilibrium price of a ton of tangerines and the equilibrium quantity of tangerines in Sudan in the absence of international trade. Then, use the green triangle (triangle symbol) to shade the area representing consumer surplus in equilibrium. Finally, use...
& 9 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52 Quant Refer to Figure 9-1. When trade in coffee is allowed, consumer surplus in Guatemala a. increases by the area B+D. D b. increases by the area C+F. O c. decreases by the area B-D. d. decreases by the area D-G con Key Question 18 of 20 ) Submit Assignment for Grading...
40 38 36 34 32 30 28 26 84 22 16 ад 12 10 8 6 4 2 0 28 30 32 34 Pizza 18 20 0 2 4 6 10 12 14 16 22 24 26 2. a) Suppose Wolfie has an income of $24, that Ppizza = $2, and that Psoda budget constraint in the above figure. What is the opportunity cost of one more slice of pizza? = $2. Draw Wolfies b) At this income and prices,...
Figure 84 The vertical distance between points A and B represents a tax in the market Supply • 0 0 0 0 0 0 0 0 0 0 0 blolololo Demand 65 10 15 0.6 Dati Refer to Figure 8-4. The amount of tax revenue received by the government is equal to a. $245. b. $350 c. $490. d. $700 Figure 2-10 oooooo Panel (a) Panel (b) XXRRASS Refer to Figure 2.10, Panel(a). The movement from point to point could...
Cost ATC AVC P GON Demand MR 88 80 4 72 6 8 10 14 16 18 20 22 24 26 28 30 32 34 36 38 40 00 18.84 17.78 16.78 15.84 15.00 14.24 13.58 12.90 12.44 12.00 11.64 11.38 11.16 11.04 11.00 11.04 11.16 11.38 11.84 12.00 12.44 12.98 MC 20.00 17.72 15.68 13.88 12.32 11.00 9.92 9.08 8.48 8.12 8.00 8.12 8.48 9.08 9.92 11.00 12.32 13.88 15.68 17.72 20.00 22.52 25.28 96.59 58.64 42.68 35.28 30.55...
Price Osup 120 14 140 18 160 22 180 26 200 30 220 34 240 38 Qdem 30 26 22 18 14 10 8 1. Calculate the elasticity of demand at the current equilibrium price and indicate if this is elastic or inelastic. 2. If the government placed a $10 tax on the production of this item, would the producer or the consumer absorb the larger portion of this fee?. 3. On average, young single men earning $40,000 per year...
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