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QUESTION 1 Consumer surplus is the a. value of a good to a consumer. b. amount a consumer pays minus the amount the consumer is willing to pay. C. amount of a good consumers get without paying anything. d. amount a consumer is willing to pay minus the amount the consumer actually pays. QUESTION 2 Consumer surplus a. measures the benefit buyers receive from participating in a market b. measures the benefit sellers receive from participating in a market. c....
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please answer these. Thank you.
29. When a tax is placed on the buyers of coffee, the buyers bear the entire burden of the tax b. sellers bear the entire burden of the tax burden of the tax will be always be equally divided between the buyers and the sellers d. burden of the tax will be shared by the buyers and the sellers, but the division of the burden is not always equal 30. the government wants to reduce...
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Submit when finished answering the R button. Due to this being a web course, only scores will be shown, there will be back Question 1 1 pts Willingness to pay measures the value that a buyer places on a good. O is the amount a seller actually receives for a good minus the minimum amount the seller is willing to accept. is the maximum amount a buyer is willing to pay minus the minimum...
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Question 5 Welfare for a country is equal to consumer surplus consumer surplus minus producer surplus consumer surplus plus producer Surplus plus tariffrevenues consumer surplus plus producer Surplus minus tariff revenues Question 6 Use the graph below to answer this question: In autarky (before trade) consumer surplus is the area represented by the letter(s) (For this question and the following ones that use the same graph. Sis domestic supply. Dis domestic demand Pw is the world price is the tarif)
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2. The amount of a good that buyers are willing and able to buy at a specific price is known as: demand. sales. quantity demanded. product quantity. 3. The effect describes the change in consumer purchasing power that occurs when the price of a good changes. demand supply income substitution 4. The price of chicken has doubled. As a result, Andre will purchase pork instead of chicken. This is an example of the effect. substitution demand increasing cost income eos...
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question 1. A and B answered already
c. What is the new equilibrium point? Show the government revenue graphically? d. Label the portion of tax that buyer pays and the portion that seller pays? e. What is the price the sellers receive? II. Short Answers (10 Points): 1. (5 Points) Using the equations shown below, answer the following questions with a carefully labelled graph (without calculations). QD a-bP; Qs =c + dP a. Draw demand and supply curves, and show...
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If the price of a bottle of orange juice is $0.75, the total consumer surplus received by these consumers is S (Enter your response rounded to hwo decimal places) Suppose the price of a bottle of orange juice rises to $150 Once the price of a bottle of orange juice rises to $1 50, the total consumer surplus received by these consumers is : $(Enter your response rounded to hwo decimal places) If the price of a bottle of orange...
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I need help with these Mcq's please. Thank you
37. Efficiency in a market is achieved when cial planner intervenes and sets the quantity of output after evaluating buyers willingness to pay and sellers' costs the sum of producer surplus and consumer surplus is maximized all firms are producing the end at the same low cost per unit. no buyer is willing to pay more than the equilibrium price for any unit of the good. C ( 38. Total surplus...
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Consider a market for the tickets to a football match. Six supporters of the Blue team would like to buy tickets; their valuations of a ticket (their WTPwillingness to pay (WTP) An indicator of how much a person values a good, measured by the maximum amount he or she would pay to acquire a unit of the good. See also: willingness to accept.closewillingness to pay (WTP) An indicator of how much a person values a good, measured by the maximum...
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4. Market demand is given as QD-210-3P. Market supply is given as QS competitive equilibrium, what will be the value of consumer surplus? a. $1400 2P+50. In a perfectly b. $2166 .$3267 d. $6538 5. Orange juice and apple juice are substitutes. Suppose bad weather sharply reduced the orange harvest. What would the impact be? a increase consumer surplus in the market for orange juice but decrease producer surplus in the market for apple juice b. increase consumer surplus in...
QUESTION 1 Consumer surplus is the a. value of a good to a consumer. b. amount a consumer pays minus the amount the consumer is willing to pay. C. amount of a good consumers get without paying anything. d. amount a consumer is willing to pay minus the amount the consumer actually pays. QUESTION 2 Consumer surplus a. measures the benefit buyers receive from participating in a market b. measures the benefit sellers receive from participating in a market. c....
please answer these. Thank you.
29. When a tax is placed on the buyers of coffee, the buyers bear the entire burden of the tax b. sellers bear the entire burden of the tax burden of the tax will be always be equally divided between the buyers and the sellers d. burden of the tax will be shared by the buyers and the sellers, but the division of the burden is not always equal 30. the government wants to reduce...
1.
2.
3.
4.
5.
6.
Submit when finished answering the R button. Due to this being a web course, only scores will be shown, there will be back Question 1 1 pts Willingness to pay measures the value that a buyer places on a good. O is the amount a seller actually receives for a good minus the minimum amount the seller is willing to accept. is the maximum amount a buyer is willing to pay minus the minimum...
Question 5 Welfare for a country is equal to consumer surplus consumer surplus minus producer surplus consumer surplus plus producer Surplus plus tariffrevenues consumer surplus plus producer Surplus minus tariff revenues Question 6 Use the graph below to answer this question: In autarky (before trade) consumer surplus is the area represented by the letter(s) (For this question and the following ones that use the same graph. Sis domestic supply. Dis domestic demand Pw is the world price is the tarif)
2. The amount of a good that buyers are willing and able to buy at a specific price is known as: demand. sales. quantity demanded. product quantity. 3. The effect describes the change in consumer purchasing power that occurs when the price of a good changes. demand supply income substitution 4. The price of chicken has doubled. As a result, Andre will purchase pork instead of chicken. This is an example of the effect. substitution demand increasing cost income eos...
question 1. A and B answered already
c. What is the new equilibrium point? Show the government revenue graphically? d. Label the portion of tax that buyer pays and the portion that seller pays? e. What is the price the sellers receive? II. Short Answers (10 Points): 1. (5 Points) Using the equations shown below, answer the following questions with a carefully labelled graph (without calculations). QD a-bP; Qs =c + dP a. Draw demand and supply curves, and show...
If the price of a bottle of orange juice is $0.75, the total consumer surplus received by these consumers is S (Enter your response rounded to hwo decimal places) Suppose the price of a bottle of orange juice rises to $150 Once the price of a bottle of orange juice rises to $1 50, the total consumer surplus received by these consumers is : $(Enter your response rounded to hwo decimal places) If the price of a bottle of orange...
I need help with these Mcq's please. Thank you
37. Efficiency in a market is achieved when cial planner intervenes and sets the quantity of output after evaluating buyers willingness to pay and sellers' costs the sum of producer surplus and consumer surplus is maximized all firms are producing the end at the same low cost per unit. no buyer is willing to pay more than the equilibrium price for any unit of the good. C ( 38. Total surplus...
4. Market demand is given as QD-210-3P. Market supply is given as QS competitive equilibrium, what will be the value of consumer surplus? a. $1400 2P+50. In a perfectly b. $2166 .$3267 d. $6538 5. Orange juice and apple juice are substitutes. Suppose bad weather sharply reduced the orange harvest. What would the impact be? a increase consumer surplus in the market for orange juice but decrease producer surplus in the market for apple juice b. increase consumer surplus in...