Question

30. The marginal benefit of Good X company is $17. The Come A is 343, the price is $29. and the marginal cost of Good X the consumer surplusis and the producer plus is Com As 543, the price is Use the graph below tow ers questions 31 and 33. Price Me model. Mark your point with Pg and OE- 31. In the graph Quantity in the graph above, show the price the government would share and the amount produced in the natural monopoly 32. In the graph above, show the profitarea when the natural monopoly is allowed to charge the price that they want Mark the monopoly's price, Pm and the monopoly's quantity, m. 33. In the graph above show the price that would be charged if the natural monopoly was forced to charge the perfect competitive price. Mark the price with Pc. Also show the subsidy area. 34. On the graph below show where the firm's short run supply curve. Price MC AC AVC Quantity As Angela flips through the menu at Olive Garden, she sees a pasta dish that she really likes (the purchase of bring her much utility). See immediately thinks, if this dish costs less than $14 I'm going to buy It Olive Gare make the meal for $7. The price the pasta dish is $11.95 35. Should an exchange be made? Yes/no 36. If the purchase was made would there be any consumer surplus? yes, no. If yes, how much? 37. If the exchange was made would there be any producer surplus? yes, no. If yes, how much? When Company A makes 5 cars their total costs is $90,000, when they make 6 cars their total costs is $115 they sell 5 cars their total revenue is $150,000, when they sell 6 cars their total revenue is $184,000, 38. What is the marginal cost of producing the 6 car? 39. What is their marginal revenue of sell their 6 car? 40. Should they sell their 6 car? Why or why not? 41. What is their profit when they sell 6 cars?

Answer 1

Due to presence of Chegg policy, I am answering first question.

30.

Ans:

Consumer Surplus = Marginal benefit - Price = 43 - 29 = 14

Producer Surplus = Price - Marginal cost = 29 - 17 = 12

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