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Each customer's willingness to pay for a designer scarf is presented in the table below.
| Name | Willingness to Pay |
| Tara | $2,000 |
| Zil | 1,800 |
| Ara | 1,600 |
| Emily | 1,000 |
| Robert | 500 |
If the price of a scarf decreases from $1,800 to $1,000, total consumer surplus will increase, in numerals, by $_____.
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- A. Diagram 2- Which of the following area (A-C, select 1), represents the additional surplus fromthe original sellers as a results of priceincreasing from P1 to P2? B. Diagram 2- Which of the following area (A-C, select 1), represents the additional surplus fromthe new sellers as a results of priceincreasing from P1 to P2?Assume the price of a particular paint brush is $3.50. Denise purchases the paint brush for $3.50 but was wiling to pay $5.00. Ted purchases the paint brush for $3.50 but was willing to pay $4.00. What is the total consumer surplus for Denise and Ted? Group of answer choices $2.00 $4.00 $5.00 $3.55 $1.50A. Diagram 1- Which of the following area (A-F, select 1), represents the additional surplus fromnew consumers as a results of pricedecreasing from P1 to P2? B. Diagram 1- Which of the following area (A-F, select 1), represents the additional surplus fromthe original consumers as a results of price decreasing from P1 to P2?
- The demand curve for product X is given by QXd = 420 − 4PX.a. Find the inverse demand curve. Instruction: Enter all values as integers, or if needed, as a decimal. PX = − QXdInstructions: Enter your responses to the nearest penny (two decimal places).b. How much consumer surplus do consumers receive when Px = $50?$ c. How much consumer surplus do consumers receive when Px = $25?$ d. In general, what happens to the level of consumer surplus as the price of a good falls?The level of consumer surplus as the price of a good falls.Question 39 You are considering buying a monthly metro pass for the subway at $100 or paying $4 per ride (Pd). Your monthly demand curve is Pd = 60-2Qd where Qd is the number of rides per month. Given this information, your consumer surplus will be $784 buying each ride and $800 with the monthly pass. $600 buying each ride and $700 with the monthly pass. $784 buying each ride and $750 with the monthly pass. $750 buying each ride and $900 with the monthly pass.If Sam is willing to pay $50 for one good X, $30 for a second, $20 for a third, $8 for a fourth, and the market price is $10, then Sam’s consumer surplus isa. $10. b. $40. c. $70. d. $100. PreviousNext
- PDemand QDemand PSupply QSupply $10 0 $1 2 $9 3 $2 4 $8 6 $3 6 $7 9 $4 8 $6 12 $5 10 $5 15 $6 12 $4 18 $7 14 If the Government creates a quota of 6 units to reduce the consumption of the dangerous product, what will the price of the good be in the marketplace? How much deadweight loss is there? How much of the deadweight loss came from the consumers?The table below shows the amount three sellers are willing to sell (WTS) for different quantities of large pepperoni pizzas. SellerQuantity of pizzas suppliedWTS for each pizzaPeter4$30Paul8$24Mary4$12 On the diagram below, draw the supply curve for pepperoni pizza.How much total producer surplus do they receive if the price of pizza is $25? $ Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Kyra buys an iPhone for $240 and gets consumersurplus of $160.a. What is her willingness to pay?b. If she had bought the iPhone on sale for $180,what would her consumer surplus have been?c. If the price of an iPhone were $500, what wouldher consumer surplus have been?
- The demand curve for product X is given by QXd = 480 - 2PX. Instruction: Enter all values as integers, or if needed, as a decimal.a. Find the inverse demand curve. Instructions: Enter your responses to the nearest penny (two decimal places).b. How much consumer surplus do consumers receive when Px = $50?c. How much consumer surplus do consumers receive when Px = $30?d. In general, what happens to the level of consumer surplus as the price of a good falls?(choose one) The level of consumer surplus; increases, doesn't change, or decreases as the price of a good falls?Suppose Jolene buys apples weekly. If the price of apples were to drop, Jolene would experience in . a decrease an increase a decrease an increase a decrease total revenue consumer surplus her budget constraint marginal utility willingness to pay Suppose the government levies a tax of $0.50 per pack on the buyers of cigarettes. Suppose also that the price elastic- ity of demand for cigarettes is 1.2 and the price elasticity of supply is 0.7. Because this tax is levied on the sale of a specifi c good, it is an excise tax. a progressive tax. a regressive tax. a proportional tax. a lump-sum tax. After this tax is levied, total surplus will , and the price received by producers (not including the tax) will . increase decrease increase decrease increase increase by exactly $0.50 fall by exactly $0.50 fall by less than $0.50 fall by less than $0.50 increase by more than $0.50 If economists were to study the tax incidence in this cigarette market, they would…Melissa buys an iPod for $120 and gets consumer surplus of $80. a. What is her willingness to pay?b. If she had bought the iPod on sale for $90, what would her consumer surplus have been?c. If the price of an iPod were $250, what would her consumer surplus have been? (3) * Add file
