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Roma is a watch seller. Her minimum acceptance
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- Find the consumer surplus if maximum willingness to pay is $48 and market price is $23A consumer is willing to purchase an item for $30 but he gets item at a market price of $22. Calculate the consumer surplus.Consumers' and Producers' Surplus The quantity demanded x (in units of a hundred) of the Mikado miniature cameras per week is related to the unit price p (in dollars) by p = −0.2x2 + 200 and the quantity x (in units of a hundred) that the supplier is willing to make available in the market is related to the unit price p (in dollars) by p = 0.1x2 + 7x + 100. If the market price is set at the equilibrium price, find the consumers' surplus and the producers' surplus. (Round your answers to the nearest dollar.) consumer's surplus $ producer's surplus $
- If a subsidy of $3 is given to consumers in the market above, what is the new price consumers pay?if the equilibrium quantity is 50 units, show on a raph that the difference between the maximum buying price & minimum selling price is greater at 25 than at 33 units.Doni is willing to sell a shoe X for IDR 30, Bobo is willing to sell a shoe X for IDR 40, Roni is willing to sell a shoe X for IDR 50. it turns out that if the shoe is sold in the market, the price of the shoe is IDR 70. amounting to Rp 90 When the market price rises to IDR 70, the total producer surplus drops to below IDR 90 the statement above is true/false?
- Starting from an initial equilibrium price, a surplus at that price can be created either by an increase in supply or a decrease in demand. TRUE FALSESuppose the equilibrium price is $10. Then a price ceiling of $15 would Be ineffective. Force the market price to $15. Force the market price to somewhere strictly between $10 and $15. Cannot be determined.Assuming this market is at equilibrium, the consumer surplus is $ _______. a) 9 b) 12 c) 21 d) 54 e) 72 f) 102 g) 126 h) 144 i) 156 j) 228 k) 252
