Consider the inverse demand and supply for dates to be given by P=30-3Qd and P=6+Qs The total surplus in this competitive market is ________ where _______ is due to producers. OPTIONS: (i) $50, 50% (ii) $54, 80% (iii) $18, 75% (iv) $72, 25%
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Consider the inverse demand and supply for dates to be given by
P=30-3Qd and P=6+Qs
The total surplus in this competitive market is ________ where _______ is due to producers.
OPTIONS:
(i) $50, 50%
(ii) $54, 80%
(iii) $18, 75%
(iv) $72, 25%
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- A certain product has supply and demand functions given by p=40q+400 and p=5400-60q respectively. (a) If the price p is $1200, how many units q are supplied and how many are demanded? (b) What price gives market equilibrium, and how many units are demanded and supplied at this price? (A) When the price p is $1200, there are ____ units supplied and ____ units demanded. (Simplify your answer) (B) The market equilibrium price is $___ and ___ units are supplied and demanded. (Simplofy your answer)Suppose market demand and supply are given by Qd = 300 - 4P and QS = -50 + 3P. The equilibrium price is: $35 $60 $40 $50Price D 1 D 2 S 1 S 2 $12 5 9 19 14 $10 8 12 17 12 $8 11 15 15 10 $6 13 18 13 8 $4 16 21 11 6 $2 18 24 9 4 If D2 and S1 represent the demand and supply schedules in a particular market, then the equilibrium price and quantity are _________ and _________, respectively. Group of answer choices $8; 15 $10; 17 $12; 9 $12; 10
- consider the inverse demand and supply for apples to be given by P=30-3Qd and P=6+Qs. the total surplus in this competitive market is ______. where______ is due to the producers. a) $50, 50% b) $54, 80% c) $18, 75% d) $72, 25%Suppose demand and supply are given by Qd = 60 - P and Qs = P - 10. Suppose that new consumers enter the market (higher preference for the good), increasing the demand by 20 units at each price. At the same time, suppliers are using a new technology that increased production by 12 units at each price. Calculate producer surplus:We are given the market information of pizza as below: a)Define the market demand equation and supply equation. a)Estimate the consumers’ surplus, producers' surplus and total market’s surplus
- In a particular market, demand and supply curves are defined by the following equations QD = 300 – 20P,QS = -540 + 40P, where P is the price per unit in pounds and QD and QS are the quantity demanded and quantity supplied, respectively. A) What is the equilibrium price and quantity? B) If a maximum price is fixed at £12, what quantity will be traded?only typed answer Q1 Assume that the demand curve D(p) given below is the market demand for widgets: Q=D(p)=1291−14pQ=D(p)=1291-14p, p > 0 Let the market supply of widgets be given by: Q=S(p)=−5+10pQ=S(p)=-5+10p, p > 0 where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price. What is the equilibrium price? Please round your answer to the nearest hundredth. What is the equilibrium quantity? Please round your answer to the nearest integer. What is the total revenue at equilibrium? Please round your answer to the nearest integer.suppose there is a market demand for coffee that express with the function Qd=252-4p and at the same time the supply of coffee is perfectly inelastic Qs=172, therefore farmers cannot change the supply quanitiy in the shortrun. so make a graph and calculate 1)consumer surplus, 2)the own-price elasticity of demand at $40/unit, and 3)the reservation price of consumers where demand elasticity equal 0.189.
- Price D 1 D 2 S 1 S 2 $12 5 9 19 14 $10 8 12 17 12 $8 11 15 15 10 $6 13 18 13 8 $4 16 21 11 6 $2 18 24 9 4 Suppose that D2 and S1 are the prevailing demand and supply curves for a product. If the demand schedule changes from D2 to D1, then: Group of answer choices equilibrium price increases from $6 to $8. equilibrium quantity increases from 13 to 18 equilibrium quantity decreases from 15 to 13. equilibrium price decreases from $6 to $4.Market demand is given as Qd = 80 - P. Market supply is given as Qs = 3P. What would result if the market price were $10? Question 18 options: a shortage of 20 a surplus of 20 a surplus of 40 a shortage of 40(Q.3.3.) Suppose the demand and supply equations for a particular good are given as follow: QD - 140 - 2P and Qs - 4P - 10. The market for this good is currently in equilibrium. (Q.3.10) At the current market price, is the market outcome efficient? If not, state the relationship between the current market price and the efficient market price, and the current quantity traded and the efficient quantity traded. At the current market price, the market outcome_______________The current market price__________________the efficlent price, and the current quantity traded___________the efficient quantity. (Please explain the response. Do not simply provide an answer. Thank you. Option choices are: is efficient, is equal to, is greater than, is inefficient, or is less than than.)