Assume the figure to the right illustrates the market for houses for sale in a small city. 300- Suppose the market price of houses is $200,000. How large will the resulting surplus be? Suppl 275- 250- At a price of $200,000, there will be ☐ surplus houses. 225- (Enter your response as a whole number.) 200- What is the equilibrium price of houses? The equilibrium price is $ whole number.) (Enter your response as a Price ($1000s) 175- 150- 125- 100- Question Viewer 50 25- Demar 0- 0 200 400 600 800 1000 1 Quantity (houses)

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)

Suppose demand and supply are given by Qd= 60 - P and Qs= 10P - 20. a. What are the equilibrium quantity and price in this market? b. Determine the quantity demanded, the quantity supplied and the magnitude of the surplus if a price floor of $50 is imposed on this market. c. Determine the quantity demanded, the quantity supplied and the magnitude of the shortage if a price floor of $29 is imposed on this market. Also determine the full economic price paid by consumers.

Suppose that a market is described by the following supply and demand equations: Qs = 2P 2D 240-P The equilibrium price in this market is [ $80, and the equilibrium quantity is 160 units. Suppose that a tax of 7 is placed on buyers, so the new demand equation is as follows: Qo 240 (P+T) The new equilibrium price is 240+T, and the new equilibrium quantity is The price received by sellers. , the price paid by buyers , and the quantity sold

5-2.      Consider a market in equilibrium. Suppose demand in this market increases. How will this affect producer surplus? Explain using a graph.

5. Consider the price-supply function p= S(z) = 5+0.1lr. (a) Find the equilibrium quantity z if the producers" surplus at 7 is 500 pesos. (b) Find the corresponding equilibrium price, p. (c) If p = D(z) = ar + b is the price-demand equation, find the values of 2000 a and b so that the consumers" surplus at the equilibrium point is - 3 pesos.

Assume that demand in the market for consoles is QD = 1000 - P and supply is QS = 2P - 200. a) In equilibrium, what will be the price of a consoles? How many units will sell at this price? b) What is the value of consumer surplus at equilibrium? c) What is the value of producer surplus at equilibrium? d) Suppose that the government imposed a $300 price ceiling on consoles. How many units are sold? e) What is consumer surplus now? What is producer surplus? What is the "deadweight İoss" from this policy?

Q4: Consider the market (supply and demand) for Wheat.Qd = 100 - 0.6P…………1Qs = -30 + 2P……...…...2a. Find the market equilibrium price and quantity?b. Find the market equilibrium price and quantity After imposing an ad valorem tax on production by 5% of good price.c. Find the market equilibrium price and quantity if producers receive a production subsidy of 10 SR per unit produced.

Assume an equilibrium price of $7 and equilibrium quantity of 8 units at demand D and supply S2 in the graph shown. Total surplus would be? S2 $11 $9 $7 $6 $3 Assuming the market is in equilibrium in the graph shown with demand D, supply S1 and equilibrium quantity of 5 units. Total surplus is: S2 $11 $9 $7 $6 $3

The market for soda beverages demand is QD = 90-20P and supply is QS = 30P-10. Price is measured in dollars per one-gallon bottle and quantity in millions of one-gallon bottles a) Find the equilibrium quantity and price in the market for soda and compute Consumer Surplus and Producer Surplus when the market is in equilibrium. As that problem noted, sweetened beverages contribute to the over consumption of high-fructose corn syrup with negative consequences for public health. Suppose that each extra one-gallon bottle of soda sold in the market imposes a $1 external cost on state and federal governments that see Medicare and Medicaid diabetes-related expenditure increase. b) What is the total external cost that the soda beverages industry imposes on the government? Suppose that a $1 per bottle tax is imposed on sellers of soda beverages. What is the new equilibrium price and equilibrium quantity in the market for soda beverages? c) How much consumer surplus and how much producer surplus…