If the supply curve is given by the equation P = 10 + 4Q, and the demand curve is given by the equation P = 185 - 10Q, then a price-ceiling set at Pmax = $50 will result in a dead-weight loss for consumers of _____. A. $22.50 B. $12.50 C. $20.80 D. $18.75
If the supply curve is given by the equation P = 10 + 4Q, and the...
If the supply curve is given by the equation P 10 + 4Q, and the demand curve is given by the equation P 185-10Q, then a price-ceiling set at Pax $50 will result in a dead-weight loss of CA. $40.25 B. $20.50 C C. $45.00 C D. $43.75 C A monopolist faces a downward sloping demand curve,P 2540-30.00.Total revenue will e maximized at the quantity of OA 127.0 OB. 8.5 OC 28 OD.4.2 Amonapolst foces a downward sloping demand curve...
ec 16 STATISTICS BOOK MAT 2 Micro 31. If the supply curve is given by the equation P- 10+ 40, and the demand curve is given by the equation P = 185-100, then a price ceiling set at Pmax-$50will result in a dead-weight loss of D:59:rr.oo 3:P-10叫(rs.り P.pdQ A) $45.00 B) $20.50 C) $43.75 D) $40.25 The equation for the demand curve is P--685-(2)Q. When Q goes from| 36 to 137, then the price must go from A) 413; 411...
1. Demand curve: P = $100 – 2Q Supply curve: P = $10 + 4Q If a tax of $30 per unit is imposed in this market, the dollar price paid by buyers will be: (show the math) a. 10 b. 20 c. 40 d. 60 e. 80
e upply and Demand Equotions. Suppose demand is given by the equation P 120-0 and supply is given by e equation P 40+ The price is in dollars in the quantity is in thousands. 13 What is producer surplus in equilibrium? a) $300,000 b) $500,000 c $1,000,000 d) None of the above. What is the deadweight loss associated with a tax of $20 per unit? 14. a) $10,000 b) $50,000 c) $150,000 d) $300,000 15. Suppose the scenario represents the...
If the inverse demand curve for a good is given by P = 100 – 4Q, the price elasticity of demand is elastic at a price of _____ and inelastic at a price of _____. $55; $35 $35; $30 $60; $50 $40; $60
5. Suppose that the demand curve for chocolate is Qp= 10 -/.P and the supply Qs P 1. Suppose that we have an sell chocolate at a price of $2. (10 points) curve is opportunity to open are trade borders and buy and b. Suppose that we impose a tariff of $1 per unit of chocolate. What is the dead weight loss of this tariff (relative to the case with free trade)? (5 points)
Incorrect Question 4 0/1 pts Supply Rent ceiling Demand Quantity of apartments Refer to the figure above. Which surface(s) describe(s) the consumers dead-weight loss, as a result of this price ceiling? O B+C D+E C+E
Suppose that the demand curve for chocolate is QD= 6 – ½ ∙P and the supply curve is QS = P – 3. a) What are the net gains to trade if the world price for chocolate is $4? b) If we currently have free-trade and the world price is $4, what is the dead-weight loss of imposing a tariff of $1?
A bakery in a small town has a supply curve for custom cakes that is given by the equation The bakery faces a weekly demand curve for cakes given by where price is measured in dollars and quantity is measured per cake. a) Plot the supply and demand curves on a scale diagram. b) What is the equilibrium market price the bakery will charge and how many cakes will consumers buy? c) How much is the consumer surplus? d) What...
In a market demand and supply equations are: The demand curve is given as: P = 50 - 3Q The supply curve is given as: P = 10 + 2Q Assuming a perfectly competitive market: 1) What is the equilibrium price and quantity?