Question

PLEASE I NEED HELP ASAP !!!!! :(:(

Answer 1

Answer 13 : Monopolist supplier charges price is equal to $450. It shows the maximum price that consumer can charged.

Answer 14 : Quantity sold is the amount of units has been sold . This is 60 units.

Answer 15 : consumer surplus is the amount that the consumer has been willing to pay for the particular good but now they are enjoying it.It is area of triangle ∆ FNL

Answer 16 : Area showing maximum profit is area NLGT

Answer 17 : Area showing social surplus. Social surplus is a sum of consumer as well as Producer surplus.

Social surplus = Consumer surplus + producer surplus= area of triangle ∆ FTG

Answer 18 : Social waste is a dead weight loss i.e area of triangle ∆ LGH

Answer 19 : Area showing total cost = area GTKS

Answer 20 : Area showing total revenue = area NLKS