Homework Answers
Add Answer to:
Suppose that Florian, Sara, and Nicolas live in a neighborhood with no city parks. Florian's demand...
Suppose that Florian's demand for good “Z” is Qd. Florian = 24 - 3P and Sara's...
Suppose that Florian's demand for good “Z” is Qd. Florian = 24 - 3P and Sara's demand is Qo. Sara = 32 - 4P. b) Draw each demand curve on the same graph. (Q on the horizontal axis and P on the vertical axis.) Do not forget to include the value of the intercepts on the vertical and horizontal axes for each curve. Label Florian's demand curve “Florian” and Sara's demand curve “Sara”. c) Derive the market (combined) demand equation...
1. 1. Suppose the demand for movies is represented by Qd = 15- 4P, and the...
1. 1. Suppose the demand for movies is represented by Qd = 15- 4P, and the supply of movies is represented by Qs = 4P – 1. Calculate the equilibrium quantity and price of movies if P is in dollars and Q is in hundreds of movie tickets sold. If the local government imposes an entertainment tax of $0.50 on each movie, what is the new equilibrium price and quantity? Does it matter whether the tax is imposed on the...
4. Suppose the market for grass seed can be expressed as: Demand: Qd = 200 -...
4. Suppose the market for grass seed can be expressed as: Demand: Qd = 200 - 5P Supply: Qs = 40 + 5P If the government collects a $5 specific tax from sellers (here you can change the supply equation to Qs = 40 + 5(P-t) or Qs = 15+ 5P, How much will the quantity demanded change from the amount demanded before the tax? What price will consumers pay after the tax? What price will sellers receive after the...
2. Suppose that two people live in Traverse City, Michigan – Bert and Ernie. In the...
2. Suppose that two people live in Traverse City, Michigan – Bert and Ernie. In the winter, the snow is so heavy and frequent that the city is considering adding heating elements under the sidewalk to melt the snow on the sidewalks in order to make them passable. This affects all of the residents. The marginal cost of heating one block of sidewalk is $40. (MC = 40.) Use the following demand curves in your answer as needed, suppose that...
3. Assume that a monopolist produces a good at constant marginal cost MC(q) = 1. Demand...
3. Assume that a monopolist produces a good at constant marginal cost MC(q) = 1. Demand is given by PD (q) = 10 – 2q. There are no other pre-existing distortions in the market. (a) What is the privately optimal quantity and price chosen by the monopolist? For parts (b) and (c), assume that a tax of $t is imposed on every unit of output produced by the monopolist. (b) Derive the optimal quantity and price chosen by the monopolist...
Suppose that the market for green tea can be described by the following demand and supply...
Suppose that the market for green tea can be described by the following demand and supply curves (prices are per kg): Qd = 260 − 5P QS = 8P a) Find the market equilibrium in the absence of taxes. Draw the demand and supply curves, labelling all intercepts and the market equilibrium b) Draw the curves as in the last item, showing clearly the areas representing the consumer surplus (CS) and the producer surplus (PS). Calculate their values and the...
2. Suppose that two people live in Traverse City, Michigan Bert and Ernie. In the winter,...
2. Suppose that two people live in Traverse City, Michigan Bert and Ernie. In the winter, the snow is so heavy and frequent that the city is considering adding heating elements under the sidewalk to melt the snow on the sidewalks in order to make them passable. This affects all of the residents. The marginal cost of heating one block of sidewalk is $40. (MC 40.) Use the following demand curves in your answer as needed, suppose that Q is...
2. Suppose that two people live in Traverse City, Michigan - Bert and Ernie. In the...
2. Suppose that two people live in Traverse City, Michigan - Bert and Ernie. In the winter, the snow is so heavy and frequent that the city is considering adding heating elements under the sidewalk to melt the snow on the sidewalks in order to make them passable. This affects all of the residents. The marginal cost of heating one block of sidewalk is $40. (MC 40.) Use the following demand curves in your answer as needed, suppose that Q...
3. Assume that a monopolist produces a good at constant marginal cost MC(q) = 1. Demand...
3. Assume that a monopolist produces a good at constant marginal cost MC(q) = 1. Demand is given by pºq) = 10 - 2q. There are no other pre-existing distortions in the market. (a) What is the privately optimal quantity and price chosen by the monopolist? For parts (b) and (c), assume that a tax of $t is imposed on every unit of output produced by the monopolist. (b) Derive the optimal quantity and price chosen by the monopolist as...
The demand for peaches is QD = 24 – (1/10)P and the supply of peaches is...
The demand for peaches is QD = 24 – (1/10)P and the supply of peaches is QS = (1/2)P -6. Currently there is no tax on peaches. a. Graph the demand and supply curves for the peach market below. Make sure to label all axes, intercepts and curves. b. Now the government imposes a tax of "T per unit" on all suppliers of peaches. As a result of the tax, the quantity of peaches supplied falls by 3. How much...
Suppose that Florian's demand for good “Z” is Qd. Florian = 24 - 3P and Sara's demand is Qo. Sara = 32 - 4P. b) Draw each demand curve on the same graph. (Q on the horizontal axis and P on the vertical axis.) Do not forget to include the value of the intercepts on the vertical and horizontal axes for each curve. Label Florian's demand curve “Florian” and Sara's demand curve “Sara”. c) Derive the market (combined) demand equation...
3. Assume that a monopolist produces a good at constant marginal cost MC(q) = 1. Demand is given by PD (q) = 10 – 2q. There are no other pre-existing distortions in the market. (a) What is the privately optimal quantity and price chosen by the monopolist? For parts (b) and (c), assume that a tax of $t is imposed on every unit of output produced by the monopolist. (b) Derive the optimal quantity and price chosen by the monopolist...
2. Suppose that two people live in Traverse City, Michigan Bert and Ernie. In the winter, the snow is so heavy and frequent that the city is considering adding heating elements under the sidewalk to melt the snow on the sidewalks in order to make them passable. This affects all of the residents. The marginal cost of heating one block of sidewalk is $40. (MC 40.) Use the following demand curves in your answer as needed, suppose that Q is...
2. Suppose that two people live in Traverse City, Michigan - Bert and Ernie. In the winter, the snow is so heavy and frequent that the city is considering adding heating elements under the sidewalk to melt the snow on the sidewalks in order to make them passable. This affects all of the residents. The marginal cost of heating one block of sidewalk is $40. (MC 40.) Use the following demand curves in your answer as needed, suppose that Q...
3. Assume that a monopolist produces a good at constant marginal cost MC(q) = 1. Demand is given by pºq) = 10 - 2q. There are no other pre-existing distortions in the market. (a) What is the privately optimal quantity and price chosen by the monopolist? For parts (b) and (c), assume that a tax of $t is imposed on every unit of output produced by the monopolist. (b) Derive the optimal quantity and price chosen by the monopolist as...
Most questions answered within 3 hours.
-
Find the complete optimal solution to this linear programming
problem. Max 5x + 3y s.t. 2x...
asked 6 minutes ago -
The pH of an acetate buffer was determined to be 4.76. Then, a
few drops of...
asked 9 minutes ago -
a sample of size 1500 is used to find a confidence
interval for the percentage of...
asked 18 minutes ago -
Explain in detail the differences between qualitative and
quantitative forecasts. Include at least two examples of...
asked 22 minutes ago -
Differentiate between response time and throughput.
Explain how the physical design of a database influences
performance...
asked 24 minutes ago -
Write MATLAB code to plot the following
waveforms.
Rectangular pulses:
????(?)
????(? − ?)
????(?/?) ...
asked 24 minutes ago -
4. Adam’s Inc.’s outstanding common stock is currently selling
in the market for $28. Dividends of...
asked 35 minutes ago -
question
you were
asked to create a regression that will predict the amount of saving
for...
asked 43 minutes ago -
If tcalc = -2.78, tcrit = 1.96, H0: Mu > Mu0, and Xbar <
Mu0, what...
asked 1 hour ago -
Circular distribution
•Suppose two birds are flying, one is flying from the north and
the other...
asked 1 hour ago -
please answer all... it all counts as a discussion problem
1a qualitative data and proportions: Suppose...
asked 1 hour ago -
Typing The Answer Is Mandatory
Temperature is a measure of heat. More heat means that more...
asked 58 minutes ago