1.    Gathering supplies for a New Year's celebration, Harpua has demand for balloons given by p = 8 − q, while Tela's demand is p = 2 − q. To determine market demand, assume that Harpua and Tela are the only customers in this market. If market supply is given by p = q/8 , what is consumer surplus at the competitive equilibrium?

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A: In equilibrium, D(x) = S(x) Consumer surplus (CS) = area between demand curve and price Producer…

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A: (A) When market is in equilibrium, then Consumer surplus(CS) is-CS=12(8-4)(80-0)    =12(4)(80)…

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A: Introduction A solution that does not change with time is an equilibrium point of a dynamical system…

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A:

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A: Hi Student, Thanks or posting the question. As per the guideline, we are providing answer for the…

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A: Equilibrium is achieved in the market at the intersection of demand and supply.