Suppose the demand for football tickets at a local college is QD=70,000−500P   and the supply of tickets is QS=30,000.   The market equilibrium price is ​$8080 and the equilibrium quantity is 30000 tickets. ​(Enter your responses as whole​ numbers.)   Total economic surplus in this market is ​______.

Q: If the consumer surplus of a buyer is $7 and the market price is $30 What would be the maximum…

A: The data presented in the question is:- Consumer surplus = $7 Market price = $30 Maximum willingness…

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A: With $4 per ride - 4      = 60 - 2Qd 2Qd = 60 - 4 Qd   = 56/2 Qd   = 28. Consumer surplus = 1/2 ×…

Q: If we know that the demand function of a product is Qd-100-P, where P is the price per product…

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A: Equilibrium point                                  D(X)=S(X)…

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A: Equilibrium happens when demand gets equal to supply. So, we will put D(x) = S(x)

Q: Assuming this market is at equilibrium, the consumer surplus is $ _______. a) 9 b) 12 c) 21 d) 54 e)…

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Q: Suppose the demand for pickles on The Citadel is Qd=500-4P, and the supply is Qs=6P. Assume this…

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Q: What is the consumer surplus and unmet demand in equilibrium if: Q=D(p)=1676−16pQ=D(p)=1676-16p, p…

A: Given values: Demand, Q(p) = 1676 - 16p S(p) = -4 + 8p

Q: The demand curve for product X is given by Qxd = 300 - 2Px. a. Find the inverse demand curve.…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Suppose the equilibrium price and quantity in a market are P=$30 and Q=100. If the price were to…

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Q: (Round to nearest whole number.) Suppose demand and supply are given by the following expressions.…

A: Total Economic Surplus is the addition of Consumer Surplus and Producer Surplus.  Consumer Surplus…

Q: 240 220 200 180 + 160 + 140 120 100 80 60 - 40 - 20 + Demand 5 10 15 20 25 30 35 40 45 50 55 60 2…

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Q: QUESTION 25 Suppose that demand changes, and the (inverse) demand curve moves P = 82 -0.5Q to P =…

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Q: Consider the attached supply and demand diagram. At the market equilibrium, what is Consumer…

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Q: The market demand function for wheat is Qd= 1O - 2Pand the market supply function is QS = 4P-2, both…

A:

Q: (The demand and supply functions for a product are given in dollars, with q representing quantity,…

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Q: Consumer surplus for a particular unit sold is equal to which of the following?   Question 10…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

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