Find the cquilibrium price and quantity, the consumer surplus, producer surplus, and total surplus in the market represented by the following equations Pd=10-2Qd Ps=2+2Qs
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3) Find the cquilibrium price and quantity, the
Pd=10-2Qd
Ps=2+2Qs
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- History Bookmarks Profiles ●●● STUDY NOTES Tab Window Help Ü 0 Aa & O December 5, 2022 at 7:04 AM Find t nd the consumers' surplus and the producers' surplus at the equilibrium level for the given price-demand and price-supply equations. Include a graph that identifies the consumers surplus and the producers' surplus. Round all values to the nearest integer p=D(x) 40.4-0.06x; p= S(x)=14+0.05x The value of x at equilibrium is. The value of p at equilibrium is $. The consumers' surplus at equilibrium is $ » Q The producers' surplus at equilibrium is $. 2048 tv A OjasonV surplus is the difference between the highest price a consumer is willing to and the price the consumer actually pays. This component of economic surplus is illustrated in the diagram to the right by area Do Quantity (per time period)Consumer surplus is a measure of the difference between: a) The price which a consumer has to pay and the cost of producing the good (in a diagram, the area between the market price, and the supply curve). b) The consumer’s willingness to pay, and the cost of production (the area between the demand curve and the supply curve). c) The value which a consumer places on a unit of the good, and the market price (the area between the demand curve and the market price line). d) The marginal revenue from sales and the marginal cost of sales (the area between the marginal revenue and the marginal cost curves).
- Consider a market in which demand and supply functions are given as Qd = 300-20P Qs =, 20P-100 Calculate the 1 equilibrium price and quantity 2 a price ceiling of rs5 is imposed how does it affect quantity demanded and quantity supplied. Use diagram 3 Distinguish between consumers surplus and producers surplus. With the help of diagram.show how the consumers surplus is determined. (10)The market demand and supply equations for theme park in a city are given by P = 30 – 0.005QD and P = 10 + 0.005QS, where P is the price in dollars and QD is the quantity of theme-park tickets demanded and QS is the quantity of theme park ticket supplied.(i) Solve for the equilibrium price and quantity of theme park tickets and compute the consumer surplus and producer surplus. Support your answers with a graph of the theme park tickets market.(10 marks)(ii) Explain the implications of the welfare of consumers, producers and the society when the price of theme park ticket is fixed at $15. Support your answers with a graph of the theme park tickets market.(20 marks)(b) The availability of alternative entertainment methods has resulted in a large decrease in theme-park visitors. To help the theme-park operators, the government is contemplating imposing a price floor for theme-park tickets or provide a subsidy to theme park visitors. Appraise the welfare effects of these two policies with…3.50 3.00 S- MSC 2.50 2.00 1.00 50 D = MSB 2 6. 7. 8. 6. 10 Quantily (millions of gallons of milk per day) In the above figure, if the price is $1.25 per gallon of milk and 5 million gallons are produced and consumed, then the consumer surplus is and the producer surplus is اختر أحد الخيارات a. $6.25 million; $6.25 million b. $12.5 million; $12.5 million .C. None of the above answers are correct d. $3.125 million; $3.125 million Price (dollars per gallon of milk)
- Determine whether the following statements is true or false, and explain why. The consumers’ surplus and the producers’ surplus equal each other.The market demand and supply equations for theme park in a city are given by P = 30 – 0.005QD and P = 10 + 0.005QS, where P is the price in dollars and QD is the quantity of theme-park tickets demanded and QS is the quantity of theme park ticket supplied. (i) Solve for the equilibrium price and quantity of theme park tickets and compute the consumer surplus and producer surplus. Support your answers with a graph of the theme park tickets market.(ii) Explain the implications of the welfare of consumers, producers and the society when the price of theme park ticket is fixed at $15. Support your answers with a graph of the theme park tickets market.tab STUDY NOTES The value of x at equilibrium is. The value of p at equilibrium is $ Find the consumers' surplus and the producers' surplus at the equlibrium level for the given price-demand and price-supply equations. Include a graph that identifies the consumers' surplus and the producers' surplus. Round all values to the nearest integer. p=D(x)=39-0.09x; p= S(x)=11+0.05x ! 1 0 The consumers' surplus at equilibrium is $. December 5, 2022 at 6:46 AM A The producers' surplus at equilibrium is $. 2 W S Aa # 3 E D $ 4 R F 8 % 5 T » Q G 6 F Y 2048 tv & 7 H O 8 (C
- If the deadweight loss in the market represented by the graph is $1,400, what is the actual economic surplus?Q)Using this diagram calculate : 1) The producer surplus after change 2) The total surplus after the change Explains it correctlyThe market demand and supply equations for theme park in a city are given by P = 30 – 0.005QD and P = 10 + 0.005QS, where P is the price in dollars and QD is the quantity of theme-park tickets demanded and QS is the quantity of theme park ticket supplied. (i) Solve for the equilibrium price and quantity of theme park tickets and compute the consumer surplus and producer surplus. Support your answers with a graph of the theme park tickets market.(ii) Explain the implications of the welfare of consumers, producers and the society when the price of theme park ticket is fixed at $15. Support your answers with a graph of the theme park tickets market.(b) The availability of alternative entertainment methods has resulted in a large decrease in theme-park visitors. To help the theme-park operators, the government is contemplating imposing a price floor for theme-park tickets or provide a subsidy to theme park visitors. Appraise the welfare effects of these two policies with suitable…
