Homework Answers
Consumer surplus = Area under the demand curve but above the price level
CS = (Y intercept - Price) x Q/2
Q = 1200, P = 9 and Y intercept = 15
CS = (15 - 9) x 1200/2 = 3600
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The graph below presents the average monthly demand of 4' X 8' sheets of plywood from...
The graph below presents the average monthly demand of 4' x 8' sheets of plywood from...
The graph below presents the average monthly demand of 4' x 8' sheets of plywood from a typical home building supply store Price od - No 5 500 750 1000 1500 250 1750 2000 2500 1250 Qd 2250 Quantity Suppose the price is $6 per sheet of plywood. Find the value of Consumer Surplus Enter your answer as a whole number. If you are entering a negative number be sure to include a negative sign (-) in front of that...
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The graph below presents the average monthly demand of 4'*8'sheets of plywood from a typical home building supply store Suppose the price is $13 per sheet of plywood. Suppose the price falls to $4 per sheet of plywood. How much of the increase in consumer surplus was additional consumer surplus for the people who would have bought plywood at $13 anyway. Enter your answer as a whole number (Round up to the next integer). If you are entering a negative...
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The table below presents the average monthly demand and supply of 4' X 8' sheets of plywood from a typical home building supply store Price 19 18 17 16 15 13 12 11 10 250 500 625 750 2000 1250 1375 1500 1125 170 175 2000 2125 2350 2375 2500 Quantity Suppose that in an attempt to help plywood producers a price floor is imposed at $17. What is the value of Consumer Surplus now? Enter your answer a whole...
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The table below presents the average monthly demand and supply of 4 x 8' sheet store. In any month when coastal states such as Fl ncreases by 600 sheets at every price. Imagine Florida passes a "price gouging law that prevents home building supply stores from raising the price of plywood when hurricanes threaten. s of plywood from a typical home building supply a are threatened by hurricanes, the typical monthly Market for Initial Initial Quantity of Quantity of Plywood...
Figure 9-22 The following diagram shows the domestic demand and domestic supply in a market. In...
Figure 9-22 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. 1 Price Domestic Supply - -- 90 80+ 70+ 60+ Domestic Demand 200 400 600 800 1000 1200 1400 1600 1800 2000 2200 2400 Quantity 27. Refer to Figure 9-22. Suppose the government imposes a tariff of $20 per unit. With trade and a tariff, consumer surplus is a. $75,000 and...
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...
Figure 9-22 The following diagram shows the domestic demand and domestic supply in a market. In...
Figure 9-22 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. 1 Price Domestic Supply - -- 90 80+ 70+ 60+ Domestic Demand 200 400 600 800 1000 1200 1400 1600 1800 2000 2200 2400 Quantity 26. Refer to Figure 9-22. Suppose the government imposes a tariff of $20 per unit. With trade and a tariff, total surplus a. $96,000. b. $114,000....
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The graph below presents the average monthly demand of 4' x 8' sheets of plywood from a typical home building supply store Price od - No 5 500 750 1000 1500 250 1750 2000 2500 1250 Qd 2250 Quantity Suppose the price is $6 per sheet of plywood. Find the value of Consumer Surplus Enter your answer as a whole number. If you are entering a negative number be sure to include a negative sign (-) in front of that...
The graph below presents the average monthly demand of 4'*8'sheets of plywood from a typical home building supply store Suppose the price is $13 per sheet of plywood. Suppose the price falls to $4 per sheet of plywood. How much of the increase in consumer surplus was additional consumer surplus for the people who would have bought plywood at $13 anyway. Enter your answer as a whole number (Round up to the next integer). If you are entering a negative...
Question 4 2.5 pts The graph below presents the average monthly demand of 4' X 8' sheets of plywood from a typical home building supply store Price Qd 500 750 250 1500 1750 2000 2250 Quantity Suppose the price is $3 per sheet of plywood. Find the value of Consumer Surplus Enter your answer as a whole number. If you are entering a negative number be sure to include a negative sign (-) in front of that number.
The table below presents the average monthly demand and supply of 4' X 8' sheets of plywood from a typical home building supply store Price 19 18 17 16 15 13 12 11 10 250 500 625 750 2000 1250 1375 1500 1125 170 175 2000 2125 2350 2375 2500 Quantity Suppose that in an attempt to help plywood producers a price floor is imposed at $17. What is the value of Consumer Surplus now? Enter your answer a whole...
The table below presents the average monthly demand and supply of 4' x 8' sheets of plywood from a typical home building supply store. In any month when coastal states such as Florida are threatened by hurricanes, the typical monthly demand for plywood increases by 600 sheets at every price. Imagine Florida passes a "price gouging" law that prevents home building supply stores from raising the price of plywood when hurricanes threaten Market for Plywood Initial Quantity of Quantity of...
The table below presents the average monthly demand and supply of 4 x 8' sheet store. In any month when coastal states such as Fl ncreases by 600 sheets at every price. Imagine Florida passes a "price gouging law that prevents home building supply stores from raising the price of plywood when hurricanes threaten. s of plywood from a typical home building supply a are threatened by hurricanes, the typical monthly Market for Initial Initial Quantity of Quantity of Plywood...
Figure 9-22 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. 1 Price Domestic Supply - -- 90 80+ 70+ 60+ Domestic Demand 200 400 600 800 1000 1200 1400 1600 1800 2000 2200 2400 Quantity 27. Refer to Figure 9-22. Suppose the government imposes a tariff of $20 per unit. With trade and a tariff, consumer surplus is a. $75,000 and...
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...
Figure 9-22 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. 1 Price Domestic Supply - -- 90 80+ 70+ 60+ Domestic Demand 200 400 600 800 1000 1200 1400 1600 1800 2000 2200 2400 Quantity 26. Refer to Figure 9-22. Suppose the government imposes a tariff of $20 per unit. With trade and a tariff, total surplus a. $96,000. b. $114,000....
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