1) The demand for the Tesla electric automobile is P = 200,000 – 2.1 Q, where...
1) The demand for the Tesla electric automobile is P = 200,000 – 2.1 Q, where P is in $/car and Q is the number of cars sold per year. The supply of the Tesla in question 3 is P = 20,000 + Q, P is in $/car and Q is the number of cars produced per year. What is the equilibrium quantity sold, to the nearest car?
2)The demand for the Tesla electric automobile is P = 200,000 – 2.1 Q, where P is in $/car and Q is the number of cars sold per year. The supply of the Tesla in question 3 is P = 20,000 + Q, P is in $/car and Q is the number of cars produced per year. What is the equilibrium price of the car, to the nearest dollar? [Do not include the $ sign.]
3)The demand for the Tesla electric automobile is P = 200,000 – 2.1 Q, where P is in $/car and Q is the number of cars sold per year. The supply of the Tesla in question 3 is P = 20,000 + Q, P is in $/car and Q is the number of cars produced per year. What is Consumer Surplus in the Tesla market, to the nearest million dollars? [I.e., if Consumer surplus = $387,582,329, the answer should be 388. Do not include the $ sign.]
Homework Answers
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1) The demand for the Tesla electric automobile is P = 200,000 –
2.1 Q, where...
1- The inverse demand for the Tesla electric automobile is Qd = 100,000 - 0.5P, where...
1- The inverse demand for the Tesla electric automobile is Qd = 100,000 - 0.5P, where P is in S/car and is the number of cars sold per year. Currently, the U.S. government offers incentives to buyers of electric vehicles worth $5000. If the current selling price of the Tesla is $75,000, what is consumer surplus when the subsidy is available? What will be the change in consumer surplus after the incentive has expired? (Hint: draw the demand curve)
Q9. The demand for widgets (Q) is given by the following equation Q 500 - 100 P. -50P, - 150 A, + 200A the price o...
Q9. The demand for widgets (Q) is given by the following equation Q 500 - 100 P. -50P, - 150 A, + 200A the price of widgets, currently at 25 P, the price of woozles, currently at 20 A,-Advertising on woozles currently at 10. A,-Advertising for widgets currently at 30 The cost per widget is currently 20 and the manufacturer where P behaves as a monopolist (a) What are current profits equal to? (b) Calculate the elasticity of demand for...
In this question, we study the consequences of trade policies on the automobile market. We assume...
In this question, we study the consequences of trade policies on
the automobile market. We assume that cars are all similar on the
market (in other words, a car is a homogeneous good). The supply of
Japanese cars is perfectly elastic at a price pJ = 20. Moreover,
the supply of cars made in the US is QSus = p − 15 for any price
larger than 15. Finally, the demand for cars from American
consumers is QD = 30...
please show work 1. Consider the national market for Tesla Model S all-electric luxury car with...
please show work
1. Consider the national market for Tesla Model S all-electric luxury car with the inverse demand given by P=120-0.75*Qd and inverse supply given by P=15+0.25Qs. (Note: the price is in thousands of US$ and quantity is in thousands of cars). a. Calculate the equilibrium price and quantity and draw a graph to represent them. (Label clearly everything on the graph to obtain maximum points) b. Calculate the Total Surplus at the equilibrium point and provide a succinct...
Roblem 2: Trade Policy. demand for cars in Home is q 30 - P and the supply of cars in Home is q -...
E-H ONLY. THERE ARE THREE PICTURES
updated figure 2
roblem 2: Trade Policy. demand for cars in Home is q 30 - P and the supply of cars in Home is q -P. The demand for cars in Foreign is q 20-P and the supply of cars in Foreign is q P. a) Calculate the equilibrium price and quantity in each country under isolation. b) Who is the importer of cars and who is the exporter? c) Write the import...
Question: The U.S. market for automobile is produced by Ford (domestic firm in the US) and...
Question: The U.S. market for automobile is produced by Ford (domestic firm in the US) and Honda (foreign firm in Japan). Suppose that the world consists of only two countries: the U.S. and Japan. The demand curve for automobiles in either country is: Q = 10,000 - P, where Q is the number of cars sold and P is the market price of car. Both Ford and Honda produce at a constant marginal cost of $4,000 per car, and the...
The U.S. market for automobile is produced by Ford (domestic firmin the US) and Honda (foreign...
The U.S. market for automobile is produced by Ford (domestic firmin the US) and Honda (foreign firm in Japan). Suppose that the world consists of only two countries: the U.S.and Japan.The demand curve for automobiles in either country is: Q = 10,000-P, where Q is the number of cars sold and P is the market price of car. Both Ford and Honda produce at a constant marginal cost of $4,000 per car, and the two firms compete with each other...
Question: The U.S. market for automobile is produced by Ford (domestic firm in the US) and...
Question: The U.S. market for automobile is produced by Ford (domestic firm in the US) and Honda (foreign firm in Japan). Suppose that the world consists of only two countries: the U.S. and Japan. The demand curve for automobiles in either country is: Q = 10,000 - P, where Q is the number of cars sold and P is the market price of car. Both Ford and Honda produce at a constant marginal cost of $4,000 per car, and the...
Consider the following supply and demand curves. Supply: q = 800 + 400 p Demand: q...
Consider the following supply and demand curves. Supply: q = 800 + 400 p Demand: q = 2400 − 400 p . Use these equations to respond to the following questions. (a) What is the market equilibrium price and quantity? (b) What is the Consumer Surplus? (c) What is the Producer Surplus? (d) What is Total Surplus? (e) At the equilibrium price, what is the elasticity of demand?
Q=100,000-10,000P solve for the consumer surplus at the equilibrium price and quantity Demand: Let the Market...
Q=100,000-10,000P solve for the consumer surplus at the
equilibrium price and quantity
Demand: Let the Market Demand curve for soybeans be given by the following equation: Q=100,000 -10,000P where the quantity of soybeans in kilograms P = the price of soybeans in dollars per kilogram. Supply: Let the Market Supply curve for soybeans be given by the equation: Q=-5,000+ 5,000P 3) Consumer Surplus: The Consumer Surplus (CS) is the triangular area under the demand curve and above the equilibrium price....
1- The inverse demand for the Tesla electric automobile is Qd = 100,000 - 0.5P, where P is in S/car and is the number of cars sold per year. Currently, the U.S. government offers incentives to buyers of electric vehicles worth $5000. If the current selling price of the Tesla is $75,000, what is consumer surplus when the subsidy is available? What will be the change in consumer surplus after the incentive has expired? (Hint: draw the demand curve)
Q9. The demand for widgets (Q) is given by the following equation Q 500 - 100 P. -50P, - 150 A, + 200A the price of widgets, currently at 25 P, the price of woozles, currently at 20 A,-Advertising on woozles currently at 10. A,-Advertising for widgets currently at 30 The cost per widget is currently 20 and the manufacturer where P behaves as a monopolist (a) What are current profits equal to? (b) Calculate the elasticity of demand for...
In this question, we study the consequences of trade policies on
the automobile market. We assume that cars are all similar on the
market (in other words, a car is a homogeneous good). The supply of
Japanese cars is perfectly elastic at a price pJ = 20. Moreover,
the supply of cars made in the US is QSus = p − 15 for any price
larger than 15. Finally, the demand for cars from American
consumers is QD = 30...
please show work
1. Consider the national market for Tesla Model S all-electric luxury car with the inverse demand given by P=120-0.75*Qd and inverse supply given by P=15+0.25Qs. (Note: the price is in thousands of US$ and quantity is in thousands of cars). a. Calculate the equilibrium price and quantity and draw a graph to represent them. (Label clearly everything on the graph to obtain maximum points) b. Calculate the Total Surplus at the equilibrium point and provide a succinct...
E-H ONLY. THERE ARE THREE PICTURES
updated figure 2
roblem 2: Trade Policy. demand for cars in Home is q 30 - P and the supply of cars in Home is q -P. The demand for cars in Foreign is q 20-P and the supply of cars in Foreign is q P. a) Calculate the equilibrium price and quantity in each country under isolation. b) Who is the importer of cars and who is the exporter? c) Write the import...
Q=100,000-10,000P solve for the consumer surplus at the
equilibrium price and quantity
Demand: Let the Market Demand curve for soybeans be given by the following equation: Q=100,000 -10,000P where the quantity of soybeans in kilograms P = the price of soybeans in dollars per kilogram. Supply: Let the Market Supply curve for soybeans be given by the equation: Q=-5,000+ 5,000P 3) Consumer Surplus: The Consumer Surplus (CS) is the triangular area under the demand curve and above the equilibrium price....
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