Help, Please with 2 questions, and please can u explain the
answer.
1. Use the model of supply and demand to explain why the prices of
vegetables after a hurricane increase more than the prices of
candies. Support your answer with a graph.
2. Analyze the effects of a taxation in this market
a) Find the values of price and quantity that guarantee a market equilibrium (Q*,P*)
b) If the government imposes a $1 tax per unit sold, What is the quantity sold and purchased in the market? What is the purchase price? What is the price perceived by the producer?
c) What is the impact of the taxation on consumer surplus? Compare with the original
d) What is the impact of the taxation on producer revenue and producer surplus? Compare with the original
e) Which party (consumer or producer) is greatly affected by this taxation? Compare results
f) Represent in a graph the original equilibrium and the impact
of taxation
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Help, Please with 2 questions, and please can u explain the
answer.
1. Use the model...
Please answer the following questions and explain each answer. Thank you so much for your help....
Please answer the following questions and explain each answer.
Thank you so much for your help.
Question 9 1 pts Suppose that the market equilibrium price for a basic medical check-up is $50, in a market in which there is no health insurance. To encourage more people to get a check- up, the local government mandates that the price of a check-up cannot be more than $40. Is this a price floor or a price ceiling? This example describes neither...
PART III - QUANTITAYIVE QUESTIONS Answer ALL the following questions. Show any work and calculation. No...
PART III - QUANTITAYIVE QUESTIONS Answer ALL the following questions. Show any work and calculation. No marks will be allocated for answers without work. 1. Halloween costumes are becoming more popular as we are getting closer to Halloween. The domestic demand and supply for Halloween costumes in Canada are given by the following equations, where is the quantity of Halloween costumes and P is the price of Halloween costumes: P = 80 - (1/500) Q and P - 20 +...
please also help questions 5 and 6. thank you! U L iebe! 1 Exercise 2: The...
please also help questions 5 and 6. thank you!
U L iebe! 1 Exercise 2: The "welfare" implications of governmental in- tervention Suppose that market supply and supply for a standard one-bedroom apartment in Berkeley North are Jd = 1000-50P 19 -30--200, where ou (0.) corresponds to quantity demanded (supplied) and p corresponds to the monthly rent per apartment (measured in hundreds of US$). 1. Please calculate the equilibrium price that will clear this market and the accompanying equilibrium quantity....
1. Refer to the graph below to answer the following questions Price A. Quantity a. What...
1. Refer to the graph below to answer the following questions Price A. Quantity a. What is the producer surplus at the equilibrium price? b. What is the consumer surplus at the equilibrium price? c. What is the producer surplus of new manufacturers when the product price changes from P to P? d. Will consumer surplus increase or decrease (circle your answer) when the product's price decreases from Ps to P? What is the size of the change in consumer...
Use the graph below to answer questions 6 through 10. Price (S) 20 Supply 7.5 0...
Use the graph below to answer questions 6 through 10.
Price (S) 20 Supply 7.5 0 10 20 30 40 50 60 70 Quantity 6. When this market is in equilibrium, consumer surplus is equal to and producer surplus is equal to a. $200: $100 $100; $200 c. $400; $200 d. $200; $400 If there is a price floor set at $15, the quantity bought and sold in this market will be equal to 7. 20 40 60 d.80 a....
Suppose that the demand supply for rice is as follows (2) (30 points The equilibrium price...
Suppose that the demand supply for rice is as follows (2) (30 points The equilibrium price is Ph and the equilibrium quantity is Q in free market. (1) What area can represent the consumer surplus and producer surplus? government want to control the rice price level at Po, what area can represent the consumer surplus and producer surplus in this case? (2) If (3) What kind of policies can fulfill this target? Give some specific example. What is the government's...
Homework 2: Welfare Analysis 1. Let's say that the market for barley in the US is:...
Homework 2: Welfare Analysis 1. Let's say that the market for barley in the US is: Demand function: Q = 4 - VP: Supply function: Q = P-4 where P is price in S/bushel and Q is quantity in millions of bushels sold. Find the equilibrium price and quantity for this competitive market solution and graph it. Let's say that the world price is $7/bushel. Calculate and show graphically the amount produced domestically and the amount consumed domestically Using letters...
Suppose supply and demand for air-conditioners in the little Hawaiian town of Paia (Maui) are given...
Suppose supply and demand for air-conditioners in the little Hawaiian town of Paia (Maui) are given by the following equations: Qs=P-300 QD=2100-3P where the price is expressed US$, and quantity represents air conditioning units. a) Please find the equilibrium price and quantity and draw the supply and demand graph. Do not worry about the scale, just represent the relevant information. b) Please compute the consumer surplus, producer surplus and total surplus and identify them in your graph. c) Searching for...
1. The demand and supply functions for widgets are as follows: Qd =60-0.5P Qs =0.5P-20 a....
1. The demand and supply functions for widgets are as follows: Qd =60-0.5P Qs =0.5P-20 a. Solve for the competitive equilibrium price and quantity of widgets in this market. Illustrate this equilibrium in a graph. On your graph, show the regions that represent consumer surplus and producer surplus. Calculate the value of consumer surplus, producer surplus, and overall welfare. b. Suppose the government enacts a law stating that only 10 widgets can be produced and sold in the market. At...
1. Using the graph below to answer the questions. 120 100 Price (S/textbook) MR 50 100...
1. Using the graph below to answer the questions. 120 100 Price (S/textbook) MR 50 100 150 200 250 300 Quantity (textbooks/week) a. What price and quantity combination would a perfectly competitive (efficient) market establish? 1 point b. Compute the value of consumer and producer surplus at the efficient market equilibrium. 1 point c. What price and quantity combination would an imperfectly competitive (profit maximizing) firm establish? 1 point d. Compute the value of consumer and producer surplus at the...
Please answer the following questions and explain each answer.
Thank you so much for your help.
Question 9 1 pts Suppose that the market equilibrium price for a basic medical check-up is $50, in a market in which there is no health insurance. To encourage more people to get a check- up, the local government mandates that the price of a check-up cannot be more than $40. Is this a price floor or a price ceiling? This example describes neither...
PART III - QUANTITAYIVE QUESTIONS Answer ALL the following questions. Show any work and calculation. No marks will be allocated for answers without work. 1. Halloween costumes are becoming more popular as we are getting closer to Halloween. The domestic demand and supply for Halloween costumes in Canada are given by the following equations, where is the quantity of Halloween costumes and P is the price of Halloween costumes: P = 80 - (1/500) Q and P - 20 +...
please also help questions 5 and 6. thank you!
U L iebe! 1 Exercise 2: The "welfare" implications of governmental in- tervention Suppose that market supply and supply for a standard one-bedroom apartment in Berkeley North are Jd = 1000-50P 19 -30--200, where ou (0.) corresponds to quantity demanded (supplied) and p corresponds to the monthly rent per apartment (measured in hundreds of US$). 1. Please calculate the equilibrium price that will clear this market and the accompanying equilibrium quantity....
1. Refer to the graph below to answer the following questions Price A. Quantity a. What is the producer surplus at the equilibrium price? b. What is the consumer surplus at the equilibrium price? c. What is the producer surplus of new manufacturers when the product price changes from P to P? d. Will consumer surplus increase or decrease (circle your answer) when the product's price decreases from Ps to P? What is the size of the change in consumer...
Use the graph below to answer questions 6 through 10.
Price (S) 20 Supply 7.5 0 10 20 30 40 50 60 70 Quantity 6. When this market is in equilibrium, consumer surplus is equal to and producer surplus is equal to a. $200: $100 $100; $200 c. $400; $200 d. $200; $400 If there is a price floor set at $15, the quantity bought and sold in this market will be equal to 7. 20 40 60 d.80 a....
Suppose that the demand supply for rice is as follows (2) (30 points The equilibrium price is Ph and the equilibrium quantity is Q in free market. (1) What area can represent the consumer surplus and producer surplus? government want to control the rice price level at Po, what area can represent the consumer surplus and producer surplus in this case? (2) If (3) What kind of policies can fulfill this target? Give some specific example. What is the government's...
Homework 2: Welfare Analysis 1. Let's say that the market for barley in the US is: Demand function: Q = 4 - VP: Supply function: Q = P-4 where P is price in S/bushel and Q is quantity in millions of bushels sold. Find the equilibrium price and quantity for this competitive market solution and graph it. Let's say that the world price is $7/bushel. Calculate and show graphically the amount produced domestically and the amount consumed domestically Using letters...
1. Using the graph below to answer the questions. 120 100 Price (S/textbook) MR 50 100 150 200 250 300 Quantity (textbooks/week) a. What price and quantity combination would a perfectly competitive (efficient) market establish? 1 point b. Compute the value of consumer and producer surplus at the efficient market equilibrium. 1 point c. What price and quantity combination would an imperfectly competitive (profit maximizing) firm establish? 1 point d. Compute the value of consumer and producer surplus at the...
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