You are willing to sell a book for $10, but sell it for $20. Your producer...
Homework Answers
Option b.
Producer surplus is the difference between how much of a good a producer is willing to supply and how much he receives in trade. Hence the difference is $20-$10 = $10
.
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You are willing to sell a book for $10, but sell it for $20. Your producer...
You are willing to spend $30 to purchase a book, but find a copy on Amazon...
You are willing to spend $30 to purchase a book, but find a copy on Amazon for $20. Your consumer surplus is a) $30 b) $10 c) $20 d) $0
Books R Us sells vintage collectible books. The company is willing to sell particular book for...
Books R Us sells vintage collectible books. The company is willing to sell particular book for as little as $45. Its main competitor is Hard 2 Find Books, which is willing to sell the book for as little as $30. The current market price of that particular book is $75. What is the total producer surplus for the two firms? Your Answer: Answer Karen can make 4 jackets or 10 ties in one day working at the clothing factory. Joe...
If you are willing to sell your lawn mower business for $355,000 and someone offers you...
If you are willing to sell your lawn mower business for $355,000 and someone offers you $420,000 for it, this transaction will generate: a. $30,000 worth of buyer surplus and $35,000 of seller surplus b. $65,000 worth of buyer surplus and unknown amount of seller surplus c. $65,000 worth of seller surplus and unknown amount of buyer surplus d. There is no surplus created
Table: Producer Surplus and Phantom Tickets Student Tim Willingness to Sell $1 $30 Laura Whitney $50...
Table: Producer Surplus and Phantom Tickets Student Tim Willingness to Sell $1 $30 Laura Whitney $50 Ralph $100 $150 Rick Reference: Ref 4-8 Table Producer Surplus and Phantom Tickets (Table Producer Surplus and Phantom Tickets) The table Producer Surplus and Phantom Tickets shows the minimum price at which each of the students is willing to sell a ticket to Phantom of the Opera. Assume that each student has only one ticket to sell. Given the information in the table, if...
Figure: Producer Surplus Price of book $45 Engelbert Andrew 0 1 2 3 4 5 Quantity...
Figure: Producer Surplus Price of book $45 Engelbert Andrew 0 1 2 3 4 5 Quantity of books Reference: Ref 4-5 Figure: Producer Surplus (Figure: Producer Surplus) Look at the figure Producer Surplus. When the price rises from $25 to $35, producer surplus___for a total producer surplus of__ Select one: O a decreases by $10; $30 O b. decreases by $35; $100 O c. increases by $30; $60 O d. increases by $10; $30
23. LDT Products, Inc., designs and sells flannel jackets. The company is willing to sell a...
23. LDT Products, Inc., designs and sells flannel jackets. The company is willing to sell a men's flannel jacket for as little as $45. Its main competitor is MK Outriggers, which is willing to sell the same men's flannel jacket for as little as $40. The current market price of that type of jacket is $57. What is the total producer surplus for the two firms? a. $95 b. $29 c. $12 d. $17
0 10 20 30 40 50 60 70 80 90 100 Quantity 3. Answer the following...
0 10 20 30 40 50 60 70 80 90 100 Quantity 3. Answer the following questions based on the graph that represents John's demand for ribs per week at Judy's rib shack (Figure 2). (I want you to show your calculations where necessary, i.e. CS, PS and TS questions) (25pts.) a. At the equilibrium price, how many ribs would John be willing to purchase? b. How much is John willing to pay for 20 ribs? c. What is the...
Homey Spaces sells household items. The company is willing to sell a particular floor lamp for...
Homey Spaces sells household items. The company is willing to sell a particular floor lamp for as little as $45. Its main competitor is Southern Home, which is willing to sell the floor lamp for as little as $40. The current market price of that type of floor lamp is $75. What is the total producer surplus for the two firms? Your Answer: Answer
Determine where producer is experiencing a producer surplus or consumer surplus, along with the amount of...
Determine where producer is experiencing a producer surplus or
consumer surplus, along with the amount of the surplus.
For each scenario, decide whether it creates a producer or a consumer surplus. Then, calculate the ensuing surplus. Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off which she found online. She selects and purchases a pair of jeans which cost $35 pre-discount. Alice experiences a Alice's surplus: $ Jeff finds some steaks...
Has 2 graphs and questions. thank you for your 5. Producer surplus for a group of...
Has
2 graphs and questions. thank you for your
5. Producer surplus for a group of sellers The following graph shows the supply curve for a group of sellers in the U.S. market for laptops (orange line). Each seller has only one laptop to sell. The market price of a laptop is shown by the black horizontal line at $105. Each rectangle on the graph corresponds to a particular seller in this market: blue (circle symbols) for lake, green (triangle...
Books R Us sells vintage collectible books. The company is willing to sell particular book for as little as $45. Its main competitor is Hard 2 Find Books, which is willing to sell the book for as little as $30. The current market price of that particular book is $75. What is the total producer surplus for the two firms? Your Answer: Answer Karen can make 4 jackets or 10 ties in one day working at the clothing factory. Joe...
If you are willing to sell your lawn mower business for $355,000 and someone offers you $420,000 for it, this transaction will generate: a. $30,000 worth of buyer surplus and $35,000 of seller surplus b. $65,000 worth of buyer surplus and unknown amount of seller surplus c. $65,000 worth of seller surplus and unknown amount of buyer surplus d. There is no surplus created
Table: Producer Surplus and Phantom Tickets Student Tim Willingness to Sell $1 $30 Laura Whitney $50 Ralph $100 $150 Rick Reference: Ref 4-8 Table Producer Surplus and Phantom Tickets (Table Producer Surplus and Phantom Tickets) The table Producer Surplus and Phantom Tickets shows the minimum price at which each of the students is willing to sell a ticket to Phantom of the Opera. Assume that each student has only one ticket to sell. Given the information in the table, if...
Figure: Producer Surplus Price of book $45 Engelbert Andrew 0 1 2 3 4 5 Quantity of books Reference: Ref 4-5 Figure: Producer Surplus (Figure: Producer Surplus) Look at the figure Producer Surplus. When the price rises from $25 to $35, producer surplus___for a total producer surplus of__ Select one: O a decreases by $10; $30 O b. decreases by $35; $100 O c. increases by $30; $60 O d. increases by $10; $30
23. LDT Products, Inc., designs and sells flannel jackets. The company is willing to sell a men's flannel jacket for as little as $45. Its main competitor is MK Outriggers, which is willing to sell the same men's flannel jacket for as little as $40. The current market price of that type of jacket is $57. What is the total producer surplus for the two firms? a. $95 b. $29 c. $12 d. $17
0 10 20 30 40 50 60 70 80 90 100 Quantity 3. Answer the following questions based on the graph that represents John's demand for ribs per week at Judy's rib shack (Figure 2). (I want you to show your calculations where necessary, i.e. CS, PS and TS questions) (25pts.) a. At the equilibrium price, how many ribs would John be willing to purchase? b. How much is John willing to pay for 20 ribs? c. What is the...
Homey Spaces sells household items. The company is willing to sell a particular floor lamp for as little as $45. Its main competitor is Southern Home, which is willing to sell the floor lamp for as little as $40. The current market price of that type of floor lamp is $75. What is the total producer surplus for the two firms? Your Answer: Answer
Determine where producer is experiencing a producer surplus or
consumer surplus, along with the amount of the surplus.
For each scenario, decide whether it creates a producer or a consumer surplus. Then, calculate the ensuing surplus. Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off which she found online. She selects and purchases a pair of jeans which cost $35 pre-discount. Alice experiences a Alice's surplus: $ Jeff finds some steaks...
Has
2 graphs and questions. thank you for your
5. Producer surplus for a group of sellers The following graph shows the supply curve for a group of sellers in the U.S. market for laptops (orange line). Each seller has only one laptop to sell. The market price of a laptop is shown by the black horizontal line at $105. Each rectangle on the graph corresponds to a particular seller in this market: blue (circle symbols) for lake, green (triangle...
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