» Assume the Hsinchu City Government imposes congestion pricing for private cars entering the Chenghuang Temple ( MH) Area. Name four stakeholders that will be affected by congestion pricing. Explain what changes might occur to cach stakeholder.
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- Time remaining:00 :09 :39EconomicsUse the following to answer questions (29) - (31):In the town of “One Horse” there is one movie theater. Two groups of consumers, adults (A) andchildren (C), attend this theater. Suppose the demand for movies by adults is given by:QA = 50 - 0.50PA, where PAis price ofan adultmovie ticket(in cents)and QAis the numberofmovie tickets sold to adults atthe theater. Suppose the demand for movies by children is given by:QC = 20 - 0.50PC,where PCispriceofa children’s movie ticket(in cents)and QCis the numberofmovie tickets sold tochildren atthe theater. Also, imagine totalcostis fixed at$450, thus makingmarginalcostofprovidingonemore movie ticket to either an adult or a child constant at zero.[29]Ifthe movie theateris able to price discriminate amongits two groups ofconsumers, then itshouldcharge a higher price to group A.A.TrueB.False[30]Ifthemovie theateris able to price discriminate amongits two groups ofconsumers, then itsmaximum profit is closest in value…During the night, the electricity sector has a marginal cost of $1/MWh (megawatt-hour) forthe first 100 MWh produced (from wind turbines), and $20/MWh for each additional unit (from gasgenerators). During the day, they have a marginal cost of $1/MWh (megawatt-hour) for the first 50MWh produced (from solar panels), and $20/MWh for each additional unit (from gas generators).Nighttime and daytime demand are given by QnightD = 50 −P and QdayD = 200 −P , respectively.What are the market quantity and price during the day, and the market quantity and price at night?This is a model of the wholesale market for electricity, which you can think of as being competitive,but there is no resale between night and day.[MUST SHOW WORK] Consider the above table for the market for oranges. A deep frost destroys many or the orange juice businesses to go put of business. As a result, quantity supplied decreases hper kg and the new equilibrium quantiy is.........? kg of oranges The new equilibrium price is .............? kg of oranges Select one: O A. 1.70;400 O B. 1.10; 700 O C. 1.20;650 O D. 0.90;400 O E. 1.50;500
- Two functions are given for supply and demandP=2QS^2+QS+7P=-QD^2-3QD+45 Can give us a fair competitionYou can use GeoGebra to solve this problem graphically, but as always you must describe each step and each idea a) Calculate consumer's surplus b) Calculate producer's surplus Draw good diagrams of the solutions to both a and b,1) In the market for smart phones, explain how will thefollowing statement impact the equilibrium price andquantity?Average incomes increase and new technology improvesproductive efficiency(Make sure that you also consider the effect on demandand supply curves where appropriate)(a) Explain verbally and digramatically why Christmas trees are cheaply sold on Christmas Eve (compared to their intial price) by considering both demand and supply. (b) Assuming zero disposal costs, why is the correct profit maximising price to charge for the unsold trees on Christmas Eve the one at which the elasticity of demand is equal to -1? Illustrate using a diagram. Would the price be lower still if there were some disposal costs that the seller would face to dispose of the unsold trees?
- Please no written by hand solution In Example 9.1 LOADING... , we calculated the gains and losses from price controls on natural gas and found that there was a deadweight loss of $5.68 billion. This calculation was based on a price of oil of $50 per barrel and utilized the following equations: Supply: QS = 15.90 + 0.72PG + 0.05PO Demand: QD = 0.02minus 1.8PG + 0.69PO where QS and QD are the quantities supplied and demanded, each measured in trillion cubic feet (Tcf), PG is the price of natural gas in dollars per thousand cubic feet ($/mcf), and PO is the price of oil in dollars per barrel ($/b). If the price of oil were $65.00 per barrel, what would be the free-market price of gas? With a $65.00 price of oil per barrel, the free-market price of gas would be $nothing per thousand cubic foot. (Enter your response rounded to two decimal places.)The market demand for productXis given by: \[ Q_{d}=6-1 / 2 P \text { or } P d=12-2 Q \] The market supply for goodXis given by: \[ Q_{s}=-14+2 P \text { or } P s=7+1 / 2 Q \] whereP=price per unit andQis number of units. Draw a supply-and-demand graph with these curves. 1.) Using the line drawing tool, draw the supply and demand curves. Properly label your lines. 2.) Using the point drawing tool, plot the equilibrium point. Label your point 'E'. Note: Carefully follow the instructions above and only draw the required objects. The equilibrium price is$and the equilibrium quantity is unit(s). (Enter your responses as integers.) A per-unit excise tax is imposed on suppliers of productX, and the market supply with the tax is now given by: \[ Q_{s}=-19+2 P \text { or } P s=9.50+1 / 2 Q \] Using the graph on the right, show this supply curve. 1.) Using the line drawing tool, draw the new supply curve. Label your line 'S1+tax'.1. Note: Carefully follow the instructions above and only draw…Qd = β0 +β1Psh +β2M+β3Pcg+β4Ax+ β5C Where, Qd = Quantity demand for a deluxe room in sh Psh = Price of a deluxe room in sh (US$/room) = US$. 200.00 M = Visitors per capita income (US$/Day) = US$ 120 Pcg = Price of a deluxe room in CG (US$/room) = US$. 150.00 Ax = Average advertising expenditure in sh (US$/room) US$. 18.00 C = Customer Satisfaction Index = 8.56 DV: Q R- Square: 0.86 T table value 1.671 No of obse: 62 F- Ratio: 154.15 Var Para Esti SE β0 127.8 49.6 β1 -1.3.0 0.42 β2 2.75 1.01 β3 2.55 1.21 β4 1.41 0.48 β5 1.85 0.23 a) Are estimated parameters comparable with economic theory? why ,What are the significant parameters that could be impact on the demand for a deluxe room b) Construct the Total Revenue (TR) function of Sh hotel and determine the TR maximize demand c) Calculate and interpret, cross-price elasticity, income elasticity, and advertising elasticity of demand for a deluxe room and Calculate Adjusted R2 and interpret it.
- PLEASE ANSWER AND EXPLAIN NUMBER 2 AND 3Suppose that the world demand and supply elasticities of crude oil are -0.906 and 0.515, respectively. The current equilibrium price is $30 per barrel and the equilibrium quantity is 16.88 billion barrels per year. Derive the linear demand and supply equations. Now suppose the world supply curve you derived above consists of competitive supply and OPEC supply. If the competitive supply equation is: SC = 7.78 + 0.29P, what must be OPEC's level of production in this equilibrium? Now suppose social and political unrest in some non-OPEC producing countries reduced the competitive supply by 30 percent, what happens to the world price of crude oil?Suppose that the demand and supply schedules for raisins in South Carolina are as fallows, quantitiesare measured in millions of packs per month. What is the quantity of raisins bought if the price is 50cents ? Price (cents per pack) Quantity demanded20 18030 16040 14050 12060 10070 8080 60 a) 120b) 180c) 100Say in a market we haveDemand is P = 5 – 0.005QSupply is P = 0.00125Qa-you will have a graph with price on the vertical axis and quantity on the horizontal axis formost parts of this problem. You will want to show intercept values and equilibrium values withthe specific values from the problem (when you graph the supply show it go out at least to thesame level of Q as the Q intercept for the demand curve).b-what are the equilibrium price and quantity traded in the market?c-say the government levies an excise tax in the market of 50 cents that renders the supply tonow be P = .00125Q + 0.5 (essentially the supply curve shifts up by 50 cents at each quantity).What are the new equilibrium price and quantity traded in the market with this excise tax?d-did the market price increase by as much as the 50 cent tax? (compare the market priceincrease with the amount of the tax of 50 cents)e-what is then loss in consumer surplus from the tax? Do consumers like excise taxes?f-what is the elasticity…