In competitive equilibrium.. (choose all that apply) economic surplus is maximized deadweight loss is maximized marginal benefit = marginal cost everyone is better off
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- 5-5. Consider the market represented in the figure below. Calculate total surplus when demand is D1. Calculate total surplus when demand decreases to D2.12- In a diagram showing equilibrium of demand and supply, Excess supply is found ____________. a. below the equilibrium point b. on the equilibrium point c. all of these d. above the equilibrium pointOnly typed answer Assume that the demand for selfie sticks is QD = 6 – 0.5P. Supply is given as QS = P-3. The deadweight loss due to a quota of two sticks is $_____. A) $1.5 B) $3 C) $6 D) $8
- Carrie is willing to pay $1400 for the new Samsung Galaxy phone. Samsung is selling the new Galaxy phone for $1200. It costs Samsung $600 to produce this phone. The total economic surplus if Carrie purchases this phone is $________.Refer to Figure A-2. The supply curve S1 and the demand curve D show the initial market equilibrium for the beer market. A $.25-per-bottle tax is on beer is placed on producers, which shifts the supply curve from S1 to S2. How much tax revenue does the $.25-per-bottle tax raise? Group of answer choices $20 $15 $120 $144Ñ2 Consider the following market demand and supply: Demand: P = 13 - 5Qd Supply: P = 6 + 2Qs If the market is at equilibrium, what is the total economic surplus? Note: Express your answer in units of dollars, to at least two digits after the decimal.
- Refer to the accompanying figure. When this market is in equilibrium, total producer surplus in the market is Price ($/restaurant meal) 60 50 40 30 20 10 O 0 S D 5 10 15 20 25 30 35 40 45 50 Quantity (restaurant meals/day) per day. 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.11. Imagine that you lease an apartment for $900 a month. The market price for that apartment has increased, but you will pay less than equilibrium price because you have seven months remaining on your lease. What is this phenomenon called? A. consumer surplus B. sticky prices C. producer surplus D. deadweight losses5-2. Consider a market in equilibrium. Suppose demand in this market increases. How will this affect producer surplus? Explain using a graph.
- Typed and correct answer please. I will rate. Don't solve wrong. It's very important for me. Consider Figure #2 which illustrates a price ceiling on tickets to an event. A price above $160 is deemed illegal. Given that the price ceiling is enforced, what is the consumer surplus in this market? Area E + Area F Area A + Area B + Area C Area A + Area B + Area C + Area E + Area F + Area G + Area H Area A + Area B + Area C + Area D.18. Just give the letter answer please!!! Refer to the board. At the equilibrium price, the consumer's surplus would be • a) $o b) $ 8 • c) $ 12 • d) $161.- A company that works in a perfectly competitive market has a total cost function: TC = Q3 - 36Q2 + 540Q + 600 The supply and demand functions in that market are: QS = 5P -500 Qd = 4,000 -10P b) Find what benefit you will get d) Represent graphically the market equilibrium and that of the company, including the closing point e) Locate the rectangle that represents profits on the company's equilibrium graph. Calculate your área considering the values taken by the base and the height. Validate that it reaches the same result (or very close) to the one obtained in part b).
