Please give the formula for
these two questions
Homework Answers
11 - Total surplus = area of triangle formed by producer and consumer surplus
= 1/2 * 50*10
= 1/2*500
= 250
12 - Consumer Surplus = area of triangle above equilibrium price and below demand curve
= 1/2 * 80 *12
= 1/2 *960
= 480
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Please give the formula for
these two questions
1 Price Supply Demand 1 2 3 4...
* Question Completion Status: 1 Price 110 + 8 Supply 8 8 +- 8 Demand 8...
* Question Completion Status: 1 Price 110 + 8 Supply 8 8 +- 8 Demand 8 40+ S89 + + - 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity Refer to Figure 7-22. At the equilibrium price, total surplus is a. $3,500 b. $7,000. c. $2,500. d. $1,000 Supply HT + + + + + + + + + Demand + + + + 2 + 3 + 4 +...
please help 2. Problem solving (4 questions, 5 point each) 1. The demand and supply schedules...
please help
2. Problem solving (4 questions, 5 point each) 1. The demand and supply schedules for potato chips are in the table. Price (cents per bag) 50 60 70 Quantity Quantity demanded supplied (millions of bags a week) 160 130 150 140 140 130 160 120 110 180 150 80 90 170 100 a. draw a graph of the potato chip market and mark in the equilibrium price and quantity b. If the price is 60€ a bag, is...
1 Price 15 14 13 Supply 12 11 10 9 8 7 6 Demand 10 20...
1 Price 15 14 13 Supply 12 11 10 9 8 7 6 Demand 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity In the above figure, the vertical distance between points A and B represents a tax in the market. The amount of deadweight loss as a result of the tax is .... O A. $490. OB. $600. OC. $105. OD. $210.
Search this COU The following diagram shows the domestic demand and domestic supply in a market....
Search this COU The following diagram shows the domestic demand and domestic supply in a market. In addition, assume that the world price in this market is $40 per unit. Price 190 O 180 170 Domestic Supply 160 150 140 130 120 110 100 90 80 70 60 50 o 40 30 20 Domestic Demand 10 200 400 600 800 1000 1200 1400 1600 1800 2000 2200 2400 Refer to Figure 9-22. With free trade, consumer surplus is a. $48,000...
Identify the Surpluses. The graph to the right shows a supply curve and a demand curve...
Identify the Surpluses. The graph to the right shows a supply curve and a demand curve and several areas in between. Identify the areas on the figure that represent the following: Consumer and producer surplus a. Consumer surplus in the market equilibrium: b. Producer surplus in the market equilibrium: 18 c. Total surplus in the market equilibrium: Price Supply d. Consumer surplus when the price is $6 V e. Producer surplus when the price is $6: V Demand price is...
please answer the question c-f Q2 The demand and supply schedules for potato chips are in...
please answer the question c-f
Q2 The demand and supply schedules for potato chips are in the table. 50 70 80 a) Draw a graph of the potato chip market and mark in the equilibrium price and quantity. Quantity Quantity Price demanded supplied b) If the price is 60¢ a bag, is there a shortage or a (cents per bag) (millions of bags a week) surplus, and how does the price adjust? 160 130 c) A new dip increases the...
41) Figure 7-24 (1.67pts) 1 Price Supply Demand 2 3 + 4 + 5 + 6...
41) Figure 7-24 (1.67pts) 1 Price Supply Demand 2 3 + 4 + 5 + 6 + 7 + 8 9 10 + + + 11 Quantity Refer to Figure 7-24. The equilibrium allocation of resources is efficient because total surplus is maximized at the equilibrium.
Domestic supply wanava World price + tariff World price Domestic demand 1 2 3 4 5...
Domestic supply wanava World price + tariff World price Domestic demand 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Q Refer to Figure 9-16. The area C+D+E+F represents the decrease in consumer surplus caused by the tariff the decrease in total surplus caused by the tariff the deadweight loss of the tariff minus government revenue raised by the tariff the deadweight loss of the tariff plus government revenue raised by...
Figure 9-11 Price Domestic Supply World Price Domestic Demand Quantity Refer to Figure 9.11. Consumer surplus in...
Figure 9-11 Price Domestic Supply World Price Domestic Demand Quantity Refer to Figure 9.11. Consumer surplus in this market before trade is O a. A Ob. B+C O c. A+B+D. O d.c. Supply Demand Refer to Figure 7-21. Which area represents consumer surplus when the price is P1? O a. A O b.B ос. С To a.D
Total economic surplus. The following diagram shows supply and demand in the market for smart phones....
Total economic surplus.
The following diagram shows supply and demand in the market for
smart phones.
Use the black point (plus symbol) to indicate the equilibrium
price and quantity of smart phones. Then use the green point
(triangle symbol) to fill the area representing consumer surplus,
and use the purple point (diamond symbol) to fill the area
representing producer surplus.
Total surplus in this market is ($
)million.
150 135 Demand Equilibrium 120 105 5 90 2 75 Consumer Surplus...
* Question Completion Status: 1 Price 110 + 8 Supply 8 8 +- 8 Demand 8 40+ S89 + + - 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity Refer to Figure 7-22. At the equilibrium price, total surplus is a. $3,500 b. $7,000. c. $2,500. d. $1,000 Supply HT + + + + + + + + + Demand + + + + 2 + 3 + 4 +...
please help
2. Problem solving (4 questions, 5 point each) 1. The demand and supply schedules for potato chips are in the table. Price (cents per bag) 50 60 70 Quantity Quantity demanded supplied (millions of bags a week) 160 130 150 140 140 130 160 120 110 180 150 80 90 170 100 a. draw a graph of the potato chip market and mark in the equilibrium price and quantity b. If the price is 60€ a bag, is...
1 Price 15 14 13 Supply 12 11 10 9 8 7 6 Demand 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity In the above figure, the vertical distance between points A and B represents a tax in the market. The amount of deadweight loss as a result of the tax is .... O A. $490. OB. $600. OC. $105. OD. $210.
Search this COU The following diagram shows the domestic demand and domestic supply in a market. In addition, assume that the world price in this market is $40 per unit. Price 190 O 180 170 Domestic Supply 160 150 140 130 120 110 100 90 80 70 60 50 o 40 30 20 Domestic Demand 10 200 400 600 800 1000 1200 1400 1600 1800 2000 2200 2400 Refer to Figure 9-22. With free trade, consumer surplus is a. $48,000...
Identify the Surpluses. The graph to the right shows a supply curve and a demand curve and several areas in between. Identify the areas on the figure that represent the following: Consumer and producer surplus a. Consumer surplus in the market equilibrium: b. Producer surplus in the market equilibrium: 18 c. Total surplus in the market equilibrium: Price Supply d. Consumer surplus when the price is $6 V e. Producer surplus when the price is $6: V Demand price is...
please answer the question c-f
Q2 The demand and supply schedules for potato chips are in the table. 50 70 80 a) Draw a graph of the potato chip market and mark in the equilibrium price and quantity. Quantity Quantity Price demanded supplied b) If the price is 60¢ a bag, is there a shortage or a (cents per bag) (millions of bags a week) surplus, and how does the price adjust? 160 130 c) A new dip increases the...
41) Figure 7-24 (1.67pts) 1 Price Supply Demand 2 3 + 4 + 5 + 6 + 7 + 8 9 10 + + + 11 Quantity Refer to Figure 7-24. The equilibrium allocation of resources is efficient because total surplus is maximized at the equilibrium.
Domestic supply wanava World price + tariff World price Domestic demand 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Q Refer to Figure 9-16. The area C+D+E+F represents the decrease in consumer surplus caused by the tariff the decrease in total surplus caused by the tariff the deadweight loss of the tariff minus government revenue raised by the tariff the deadweight loss of the tariff plus government revenue raised by...
Figure 9-11 Price Domestic Supply World Price Domestic Demand Quantity Refer to Figure 9.11. Consumer surplus in this market before trade is O a. A Ob. B+C O c. A+B+D. O d.c. Supply Demand Refer to Figure 7-21. Which area represents consumer surplus when the price is P1? O a. A O b.B ос. С To a.D
Total economic surplus.
The following diagram shows supply and demand in the market for
smart phones.
Use the black point (plus symbol) to indicate the equilibrium
price and quantity of smart phones. Then use the green point
(triangle symbol) to fill the area representing consumer surplus,
and use the purple point (diamond symbol) to fill the area
representing producer surplus.
Total surplus in this market is ($
)million.
150 135 Demand Equilibrium 120 105 5 90 2 75 Consumer Surplus...
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