The graph below shows the market for video streaming services –
an artificially scarce good. What price would
maximize total surplus in this market?
A. $0
B. $25
C. $50
D. $200
Homework Answers
The surplus is the area above the price and below the demand curve
When Price is $0 the Surplus is maximized as the entire area under the curve is surplus.
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The graph below shows the market for video streaming services –
an artificially scarce good. What...
The graph below shows the market for video streaming services – an artificially scarce good. What...
The graph below shows the market for video streaming services – an artificially scarce good. What price would maximize total surplus in this market? Price 200 Demand (WTP) А. 50 B C O Quantity $200 $0 $25 $50 The graph below depicts the market for an artificially scarce good. At a price of $50, what area(s) represent the total social welfare in this market? Price 200 Demand (WTP) A 50 B с O Quantity A Ο Ο Ο A+B B...
The graph below depicts the market for an artificially scarce good. At a price of $50,...
The graph below depicts the market for an artificially scarce
good. At a price of $50, what area(s) represent the total
social welfare in this market?
A. B
B. B+C
C. C
D. A
E. A+B
Price 200 Demand (WTP) A 50 B с 0 Quantity
(30 points) Consider the market for video streaming described by the following demand and supply ...
(30 points) Consider the market for video streaming described by the following demand and supply functions, where P and Q represent price and quantity of videos streamed and T is an exogenous variable measuring the impact of technological shocks on video streaming (T> 0 for a positive and T < 0 for a negative technology shock). Assume that α, β, δ, & μ are all positive constants and ф < 0: Use the above demand and supply equations to find...
1. A company is planning to monopolize their streaming services called HooFlix in Malaysia. The company has invested MYR 3 million into their streaming services. The company also face a marginal cost of MYR 10 per each streaming service they offer. Th
1. A company is planning to monopolize their streaming services called HooFlix in Malaysia. The company has invested MYR 3 million into their streaming services. The company also face a marginal cost of MYR 10 per each streaming service they offer. The table below shows the HooFlix’s pricing for their streaming services per month and the quantity demanded at each pricing. PRICE (MYR)QUANTITY DEMANDEDMYR 13010,00012020,00011030,00010040,0009050,0008060,0007070,0006080,0005090,000 Using the information above, calculate the total revenue, marginal revenue, total cost, and profit. As a monopoly...
The graph below shows a market for house-painting services. Use it to answer the questions that...
The graph below shows a market for house-painting
services. Use it to answer the questions that follow.
A)Painting the exterior of your house yields external
benefits for your neighbors. Label the private benefit and social
benefit curves and show the amount of the external
benefit.
B)What is the equilibrium price and
quantity?
C)What is the socially optimal quantity in this
market?
(d) Does the market produce too much or too little of
this good relative to the socially optimal outcome?...
11. Total welfare The following graph shows supply and demand in the market for smartphones Use...
11. Total welfare The following graph shows supply and demand in the market for smartphones Use the black point (cross symbol) to indicate the equilibrium price and quantity of smartphones. 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 250 Demand 225 Equilbrium 200 175 Consumer Surplus 150 125 Producer Surplus 100 75 50 25 Supply 0 280 350 175 210...
(4) The graph below shows a market for house-painting services. Use it to answer the questions...
(4) The graph below shows a market for house-painting services. Use it to answer the questions that follow. Price of house painting Supply $2.200 $1,800 $1,600 Demand 110 140 Quantity of houses painted (in thousands) (a) Painting the exterior of your house yields external benefits for your neighbors. Label the private benefit and social benefit curves and show the amount of the external benefit. (b) What is the equilibrium price and quantity? c) What is the socially optimal quantity in...
1.) Efficiency The table below shows the supply and demand balance for the rental housing market...
1.) Efficiency The table below shows the supply and demand balance for the rental housing market in Riyadh. Supply and Demand for Houses in Riyadh Price (SAR per m2) Quantity Quantity demanded supplied ('000 houses) 1000 900 100 800 200 600 300 400 500 400 200 600 a.) Draw the supply and demand balance of the housing market in Riyadh. What is the equilibrium price and equilibrium quantity in the market? (1.5 Point) b.) In your graph, shade in and...
2. Consumer surplus for an individual and a market The following graph shows Jacques's weekly demand...
2. Consumer surplus for an individual and a market The following graph shows Jacques's weekly demand for cheesecake, represented by the blue line. Point A represents a point along his weekly demand curve. The market price of cheesecake is $1.25 per slice, as shown by the horizontal black line. Jacques's Weekly Demand 2.50 Demand 2.25 2.00 1 75 1.50 Price 1 25 1,00 0.75 0.50 0 25 0 2468 101214 16 18 20 QUANTITY (Slices of cheesecake) for his 8th...
Price Graph The graph shows the market for good A. The equilibrium price and quantity is...
Price Graph The graph shows the market for good A. The equilibrium price and quantity is PM and Q, respectively. Suppose the government imposes a price control that reduces producer surplus. Determine the type of price control and show it on the graph. The price control set by the government in this situation is a Using the line drawing tool, draw a price control line and label it "Price Control Carefully follow the instructions above, and only draw the required...
The graph below shows the market for video streaming services – an artificially scarce good. What price would maximize total surplus in this market? Price 200 Demand (WTP) А. 50 B C O Quantity $200 $0 $25 $50 The graph below depicts the market for an artificially scarce good. At a price of $50, what area(s) represent the total social welfare in this market? Price 200 Demand (WTP) A 50 B с O Quantity A Ο Ο Ο A+B B...
The graph below depicts the market for an artificially scarce
good. At a price of $50, what area(s) represent the total
social welfare in this market?
A. B
B. B+C
C. C
D. A
E. A+B
Price 200 Demand (WTP) A 50 B с 0 Quantity
(30 points) Consider the market for video streaming described by the following demand and supply functions, where P and Q represent price and quantity of videos streamed and T is an exogenous variable measuring the impact of technological shocks on video streaming (T> 0 for a positive and T < 0 for a negative technology shock). Assume that α, β, δ, & μ are all positive constants and ф < 0: Use the above demand and supply equations to find...
The graph below shows a market for house-painting
services. Use it to answer the questions that follow.
A)Painting the exterior of your house yields external
benefits for your neighbors. Label the private benefit and social
benefit curves and show the amount of the external
benefit.
B)What is the equilibrium price and
quantity?
C)What is the socially optimal quantity in this
market?
(d) Does the market produce too much or too little of
this good relative to the socially optimal outcome?...
11. Total welfare The following graph shows supply and demand in the market for smartphones Use the black point (cross symbol) to indicate the equilibrium price and quantity of smartphones. 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 250 Demand 225 Equilbrium 200 175 Consumer Surplus 150 125 Producer Surplus 100 75 50 25 Supply 0 280 350 175 210...
(4) The graph below shows a market for house-painting services. Use it to answer the questions that follow. Price of house painting Supply $2.200 $1,800 $1,600 Demand 110 140 Quantity of houses painted (in thousands) (a) Painting the exterior of your house yields external benefits for your neighbors. Label the private benefit and social benefit curves and show the amount of the external benefit. (b) What is the equilibrium price and quantity? c) What is the socially optimal quantity in...
1.) Efficiency The table below shows the supply and demand balance for the rental housing market in Riyadh. Supply and Demand for Houses in Riyadh Price (SAR per m2) Quantity Quantity demanded supplied ('000 houses) 1000 900 100 800 200 600 300 400 500 400 200 600 a.) Draw the supply and demand balance of the housing market in Riyadh. What is the equilibrium price and equilibrium quantity in the market? (1.5 Point) b.) In your graph, shade in and...
2. Consumer surplus for an individual and a market The following graph shows Jacques's weekly demand for cheesecake, represented by the blue line. Point A represents a point along his weekly demand curve. The market price of cheesecake is $1.25 per slice, as shown by the horizontal black line. Jacques's Weekly Demand 2.50 Demand 2.25 2.00 1 75 1.50 Price 1 25 1,00 0.75 0.50 0 25 0 2468 101214 16 18 20 QUANTITY (Slices of cheesecake) for his 8th...
Price Graph The graph shows the market for good A. The equilibrium price and quantity is PM and Q, respectively. Suppose the government imposes a price control that reduces producer surplus. Determine the type of price control and show it on the graph. The price control set by the government in this situation is a Using the line drawing tool, draw a price control line and label it "Price Control Carefully follow the instructions above, and only draw the required...
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