Supply Curve & Producer Surplus
Assume Price of Good is selling at: $350 each.
1. What is the seller’s optimal (best) quantity supplied, Qs?
2. What Area shows his net gain or Profit (Producer Surplus)?
3. What Area shows Total Revenue (P. x Q. Sold)?
4. What Area shows his Total Cost?
5. Number example of Profit: Nick will sell his custom-made "missile" balloons for a minimum cost of $100. The Price he is offered is $400. What is his “Producer Surplus” (Profit or net Gain) from selling them?
Homework Answers
1. The seller’s optimal (best) quantity supplied, Qs = 16
2. Producer Surplus = Area LWY
3. Total Revenue = Area CWYM
4. Total Cost = Area CLYM
5. Producer Surplus = $400 - $100 = $300
Add Answer to:
Supply Curve & Producer Surplus
Assume Price of Good is selling at: $350
each.
1. What...
NEED HELP WITH THIS ASAP !!!! PLEASEEEEE Supply Curve & Producer Surplus (Profit). YS, $Cost $350...
NEED HELP WITH THIS ASAP !!!! PLEASEEEEE
Supply Curve & Producer Surplus (Profit). YS, $Cost $350 $250I $150 K M 0 2 4 6 8 10 12 14 16 18 Qs Use Supply (cost) curve graph above to answer Questions 1-4. Assume Price of Good is selling at: $350 each. 1. What is the seller's optimal (best) quantity supplied, Qs? 2. What Area shows his net gain or Profit (Producer Surplus)? 3. What Area shows Total Revenue (P. x Q....
6. Producer surplus and price changes The following graph shows the supply curve for a group...
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Demand Curve & Consumer Surplus. Assume the $Price for Puppies is $200. 1. What is the...
Demand Curve & Consumer Surplus. Assume the $Price for Puppies is $200. 1. What is the buyer’s optimal (best) quantity demanded, Qd? 2. What Area shows buyer’s net gain or ‘Consumer Surplus’? 3. What Area shows buyer’s Total Dollar Value (Total Willingness to Pay)? 4. What Area shows buyer’s Total Expenditures (spending on good)? 5. Number example of Consumer Surplus: Lara wants to buy a new Surf board. She is willing to spend $650 maximum. The Price of one she...
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6. Producer surplus and price changes The following graph shows the supply curve for a group of students looking to sell used economics textbooks. Each student has only one used textbook to sell. Each rectangular segment under the supply curve represents the "cost," or minimum acceptable price, for one student. Assume that anyone who has a cost just equal to the market price is willing to sell his or her used textbook. Region A (the purple shaded area) represents the total producer...
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If the supply curve is q 2+2p, what is the producer surplus if the price is p 14? Producer surplus (PS) equals $ (Enter your response as a whole number.)
If the supply curve is q=2+2p, cid what is the producer surplus if the price is...
If the supply curve is q=2+2p, cid what is the producer surplus if the price is p= 12? Producer surplus (PS) equals (Enter your response as a whole number.)
Producer surplus is: a. Found on a graph as the area under the equilibrium price and...
Producer surplus is: a. Found on a graph as the area under the equilibrium price and above the supply curve. b. The net gain in economic well-being associated with producing and selling the equilibrium quantity of a good. c. Used to measure the impact of a change in price on the economic well-being of producers. d. All of the above. Please explain. Thank you!
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If the supply curve is q=4+2p. what is the producer surplus if the price is p=8? Producer surplus (PS) equals (Ente...
If the supply curve is q=4+2p. what is the producer surplus if the price is p=8? Producer surplus (PS) equals (Enter your response as a whole number.)
5. Producer's surplus and price changes The following graph shows the supply curve for a group...
5. Producer's surplus and price changes The following graph shows the supply curve for a group of students looking to sell used graphing calculators. Each student has only one used calculator to sell. Each rectangular segment under the supply curve represents the acceptable minimum price, for one student. Assume that anyone who has an acceptable minimum price equal to the market price is willing to sell his or her used calculator. 6,90 Alyssa Tim PRICE (Dollars per used calculator) Rosa...
NEED HELP WITH THIS ASAP !!!! PLEASEEEEE
Supply Curve & Producer Surplus (Profit). YS, $Cost $350 $250I $150 K M 0 2 4 6 8 10 12 14 16 18 Qs Use Supply (cost) curve graph above to answer Questions 1-4. Assume Price of Good is selling at: $350 each. 1. What is the seller's optimal (best) quantity supplied, Qs? 2. What Area shows his net gain or Profit (Producer Surplus)? 3. What Area shows Total Revenue (P. x Q....
6. Producer surplus and price changes The following graph shows the supply curve for a group of students looking to sell used smartphones. Each student has only one used smartphone to sell. Each rectangular segment under the supply curve represents the "cost," or minimum acceptable price, for one student. Assume that anyone who has a cost just equal to the market price is willing to sell his or her used smartphone. (? 480 400 DO Neha 320 0 Lorenzo PRICE(Dollars...
If the supply curve is q 2+2p, what is the producer surplus if the price is p 14? Producer surplus (PS) equals $ (Enter your response as a whole number.)
If the supply curve is q=2+2p, cid what is the producer surplus if the price is p= 12? Producer surplus (PS) equals (Enter your response as a whole number.)
If the supply curve is q=4+2p. what is the producer surplus if the price is p=8? Producer surplus (PS) equals (Enter your response as a whole number.)
5. Producer's surplus and price changes The following graph shows the supply curve for a group of students looking to sell used graphing calculators. Each student has only one used calculator to sell. Each rectangular segment under the supply curve represents the acceptable minimum price, for one student. Assume that anyone who has an acceptable minimum price equal to the market price is willing to sell his or her used calculator. 6,90 Alyssa Tim PRICE (Dollars per used calculator) Rosa...
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