Homework Answers
Bea's producer surplus = Price - MC = 10 - 4
Bea's producer surplus = $6
Dee's producer surplus = 10 - 8
Dee's producer surplus = $2
---
Correct Answer:
Greater
Higher
Producer surplus is lower, when there is a higher level of marginal cost of production. It is the the reason that Dee has lower producer surplus.
Add Answer to:
In the figure to the right, Bea's producer surplus is compared to Dee's producer surplus which...
Determine where producer is experiencing a producer surplus or consumer surplus, along with the amount of...
Determine where producer is experiencing a producer surplus or
consumer surplus, along with the amount of the surplus.
For each scenario, decide whether it creates a producer or a consumer surplus. Then, calculate the ensuing surplus. Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off which she found online. She selects and purchases a pair of jeans which cost $35 pre-discount. Alice experiences a Alice's surplus: $ Jeff finds some steaks...
QUESTION 5 In the following figure, which area represents producer surplus? a. Area C b. Area...
QUESTION 5
In the following figure, which area represents producer
surplus?
a.
Area C
b.
Area A
c.
Area B
1 points
QUESTION 6
Which of the following represents producer
surplus?
a.
B+A
b.
B
c.
A
1 points
QUESTION 7
Refer to the figure below. Producer surplus
is:
a.
$180
b.
$60
c.
$420
1 points
QUESTION 8
Social surplus is ________.
a.
the sum of consumer surplus and producer surplus
b.
consumer surplus minus producer...
Concept: Consumer and Producer Surplus Suppose a local cable company provides cable service to a rural...
Concept: Consumer and Producer Surplus Suppose a local cable company provides cable service to a rural community. The figure to the right illustrates the cable company's marginal cost of providing cable service along with the community's demand for cable TV. MC C ︵ 120- Assume the local cable company is a monopoly When the company maximizes profits, consumer surplus equals $ 200.0 (enter a numeric response using a real number rounded to one decimal place), and producer surplus equals $600...
2. A small town is served by many competing supermarkets, which have the same constant marginal cost. a. Using a diagram of the market for groceries, show the consumer surplus, producer surplus,...
2. A small town is served by many competing supermarkets, which have the same constant marginal cost. a. Using a diagram of the market for groceries, show the consumer surplus, producer surplus, and total surplus. b. Now suppose that the independent super- markets combine into one chain. Using a new diagram, show the new consumer surplus, producer surplus, and total surplus. Relative to the competitive market, what is the transfer from consumers to producers? What is the deadweight loss?
2....
A subsidy will increase consumer and producer surplus in a market and will increase the quantity...
A
subsidy will increase consumer and producer surplus in a market and
will increase the quantity of trades. A subsidy (such as a subsidy
for producing corn in the United States) can be considered
inefficient because a subsidy results in a quantity:
10.00 points A subsidy will Increase consumer and producer surplus in a market and will increase the quantity of trades. A subsidy (s a subsidy results in a quantity O higher than the market equilibrium quantity where the...
Producer surplus is defined as a.the quantity of a good that is profit maximizing for the...
Producer surplus is defined as a.the quantity of a good that is profit maximizing for the firm b.various quantities of a good that bring equal profit to the firm c.the difference between the market price and marginal cost of a good d.the difference between what a firm is willing to sell for and what it actually receives In a firm production model, it is typically assumed that the marginal product from an input (e.g. workers): a.is constant over early and...
6. Producer surplus and price changes The following graph shows the supply curve for a group...
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...
Consider the market for wheat, depicted in the figure to the right Suppose a price floor...
Consider the market for wheat, depicted in the figure to the right Suppose a price floor of government is imposed by the As a result of the price floor there is a of wheat Compared with the market clearing equilibrium, is the price floor efficient? What are represents the loss in efficiency in terms of consumer and producer surplus resulting from the price floor? Use the triangle drawing tool to shade in deadweight loss Label this shaded area Deadweight Loss...
In the figure, when production is 3 units with a price of $3, the producer surplus in this market equals O A. f+g....
In the figure, when production is 3 units with a price of $3, the producer surplus in this market equals O A. f+g. OB. a+b+f+ O C. a+b+f+g+h+i. OD. +. Price (dollars per unil Quantity (units!
Figure 4: A Firm P Marginal Cost 21 18 Average Total Cost 15 14 12 Marginal...
Figure 4: A Firm P Marginal Cost 21 18 Average Total Cost 15 14 12 Marginal Revanue Demand 0 30 40 50 60 g) (3 points) If this firm is price discriminating, will consumer surplus be higher or lower than when the firm is not price discriminating? h) (3 points) If this firm is price discriminating, will producer surplus be higher or lower than when the firm is not price discriminating? g) (3 points) If this firm is price discriminating,...
Determine where producer is experiencing a producer surplus or
consumer surplus, along with the amount of the surplus.
For each scenario, decide whether it creates a producer or a consumer surplus. Then, calculate the ensuing surplus. Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off which she found online. She selects and purchases a pair of jeans which cost $35 pre-discount. Alice experiences a Alice's surplus: $ Jeff finds some steaks...
QUESTION 5
In the following figure, which area represents producer
surplus?
a.
Area C
b.
Area A
c.
Area B
1 points
QUESTION 6
Which of the following represents producer
surplus?
a.
B+A
b.
B
c.
A
1 points
QUESTION 7
Refer to the figure below. Producer surplus
is:
a.
$180
b.
$60
c.
$420
1 points
QUESTION 8
Social surplus is ________.
a.
the sum of consumer surplus and producer surplus
b.
consumer surplus minus producer...
Concept: Consumer and Producer Surplus Suppose a local cable company provides cable service to a rural community. The figure to the right illustrates the cable company's marginal cost of providing cable service along with the community's demand for cable TV. MC C ︵ 120- Assume the local cable company is a monopoly When the company maximizes profits, consumer surplus equals $ 200.0 (enter a numeric response using a real number rounded to one decimal place), and producer surplus equals $600...
2. A small town is served by many competing supermarkets, which have the same constant marginal cost. a. Using a diagram of the market for groceries, show the consumer surplus, producer surplus, and total surplus. b. Now suppose that the independent super- markets combine into one chain. Using a new diagram, show the new consumer surplus, producer surplus, and total surplus. Relative to the competitive market, what is the transfer from consumers to producers? What is the deadweight loss?
2....
A
subsidy will increase consumer and producer surplus in a market and
will increase the quantity of trades. A subsidy (such as a subsidy
for producing corn in the United States) can be considered
inefficient because a subsidy results in a quantity:
10.00 points A subsidy will Increase consumer and producer surplus in a market and will increase the quantity of trades. A subsidy (s a subsidy results in a quantity O higher than the market equilibrium quantity where the...
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...
Consider the market for wheat, depicted in the figure to the right Suppose a price floor of government is imposed by the As a result of the price floor there is a of wheat Compared with the market clearing equilibrium, is the price floor efficient? What are represents the loss in efficiency in terms of consumer and producer surplus resulting from the price floor? Use the triangle drawing tool to shade in deadweight loss Label this shaded area Deadweight Loss...
In the figure, when production is 3 units with a price of $3, the producer surplus in this market equals O A. f+g. OB. a+b+f+ O C. a+b+f+g+h+i. OD. +. Price (dollars per unil Quantity (units!
Figure 4: A Firm P Marginal Cost 21 18 Average Total Cost 15 14 12 Marginal Revanue Demand 0 30 40 50 60 g) (3 points) If this firm is price discriminating, will consumer surplus be higher or lower than when the firm is not price discriminating? h) (3 points) If this firm is price discriminating, will producer surplus be higher or lower than when the firm is not price discriminating? g) (3 points) If this firm is price discriminating,...
Most questions answered within 3 hours.
-
1- What are 5 general characteristics of Botticelli’s
paintings?
2- Describe 5 important traits of Flemish...
asked 1 hour ago -
A golfer claims that his average golf score at the course he
plays regularly is less...
asked 1 hour ago -
On May 1, First Bank perfected a security interest in Debtor’s
inventory. On June 1, Bob...
asked 2 hours ago -
A new kind of typhoid shot is being developed by a medical
research team. The old...
asked 4 hours ago -
Write a chemical equation for these reactions. (Use
the lowest possible whole number coefficients.) Include
states-of-matter...
asked 6 hours ago -
For each of the Z-scores below, determine two probabilities
(show four three decimal places): (1) the...
asked 6 hours ago -
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 9 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 9 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 9 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 9 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 9 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 9 hours ago