Quantity fer to Figure 6-1. What area identifies the consumer surplus created when the market price equals P,? area A area C + D +F area B + E area A + B +E
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- A. 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?q21- If Amy is willing to pay $800 for a new dress but is able to buy the dress for $600, her consumer surplus is: Select one: a. $600 b. $200 c. $800 d. $1400The demand for a good is given by QD = 800 – 0.5P. What is consumer surplus at P = $400? Group of answer choices $187,500. $781,000. $644,405. $720,000. $360,000.
- a. What is the consumer surplus at a price of $7? b. What is producer surplus at a price of $7? Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.Q. 2 The market demand and supply functions for potato are: Qd = 40 - 8P Qs = 30P + 12 To assist the producers, the government initiates a subsidy of $0.2 per unit. What would be the change in the consumer surplus? [Choose thec closest answer] Group of answer choices 4.67 2.82 3.03 4.38 2.65 3.15 3.65 2.97Assume that Demand is given as Qd = 40-0.5P, if P= 0, 2, 4, 6i. Draw the demand scheduleii. What is the maximum quantity consumers being likely to buy?iii. Sketch the above equation.iv. If the market determined price is 10, determine the size of consumer surplus
- 3) Find the cquilibrium price and quantity, the consumer surplus, producer surplus, and total surplus in the market represented by the following equations Pd=10-2QdPs=2+2QsA. 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?Need answer asap. Consumer surplus? A limited edition package is sold only to 200 customers for $130 each. The average value of the package for the 200 customers is $280.
- Continuos income streams(total value, present value,future value) Consumers surplus and producers surplus A national study of U.S. colleges results in a demand equation q=20000-2p where q is the enrollment at a public college or university and p is the average annual tuition (plus fees) it charges. Officials at ESU have developed a policy to guide the number of students it will accept at a tuition level of p dollars. It is summarized in the equation q=7,500=0.5p. find the quilibruim tuition price p. find the consumers surplus for price p. find the producers surplus for pruce p. Find the total social gain.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?Due to good weather, there is an increase in the demand for the good. The new demand equation is Qd = 190 – 2P. The government is trying to decide between two options: Maintain the number of quotas and let the market adjust, orMaintain the price support and increase the number of quotas. Suppose now that the government decides to increase the number of quotas available to 72 units, but it keeps the price support at the current level of $72. Calculate: i) the consumer Surplusii) the producer surplusiii) deadweight loss HINT: Sketch the supply and demand equations. Which of the two options would be preferred by the producers? Which of the two options would be preferred by society as a whole?
