The market demand and supply for a particular good is given as Q-S--100+4 P, and Q-D=50-P. 0 The free market equilibrium price is and quantity is 30/20 30/30 20/50 50/30
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A: QD=70,000−500P QS=30,000.
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- Consider that the market for soybeans is defined by the following demand and supply equations: QD = 200 - 10P and QS = 20P - 100, where P is the price in dollars and Q measures the quantity in tons per quarter. The market is currently in equilibrium. Now consider that after much lobbying by the United Farmers Association, the government imposes a price control of $12.50 in this market, with no additional government support. 1.Given the current market environment, what is the total surplus in the market? 2.Describe the current market outcome. As the result of the government’s policy, the current market outcome is __________(efficient ? not efficient?). The quantity traded is __________(less than ? greater than ?) the quantity traded before the government intervention, and price sellers ( farmers) receive per ton is __________(equal to 10? equal to 12.50? less than 10? less than 12.50 and greater than 10?). Additionally, as a result of the government’s policy sellers seem to be…Market efficiency and market fallure The following graph shows equalibrium in a free market, with equilibrium quantity of Q_( bar(E)). For any level of output equal to Q_(E), a buyer values a unit of goods in this market Jess than the unit will cost a seller. Suppose now that a firm that produces for this market hires a private security force, reducing crime not only in their factory, but also in the small town In which it is located. This is an example of due to 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.The demand for petroleum is given by QD=85 − 0.4P where Q D is the quantity demanded in thousands of barrels per day and P is the price per barrel in dollars. The supply of petroleum is given by QS=55+0.6P. Calculate the equilibrium price and quantity in this market. 2. In the context of the problem in part (a), calculate the demand and supply for petroleum if the market price is $15 per barrel. What problem exists in the economy?
- The market for soda beverages demand is QD = 90-20P and supply is QS = 30P-10. Price is measured in dollars per one-gallon bottle and quantity in millions of one-gallon bottles a) Find the equilibrium quantity and price in the market for soda and compute Consumer Surplus and Producer Surplus when the market is in equilibrium. As that problem noted, sweetened beverages contribute to the over consumption of high-fructose corn syrup with negative consequences for public health. Suppose that each extra one-gallon bottle of soda sold in the market imposes a $1 external cost on state and federal governments that see Medicare and Medicaid diabetes-related expenditure increase. b) What is the total external cost that the soda beverages industry imposes on the government? Suppose that a $1 per bottle tax is imposed on sellers of soda beverages. What is the new equilibrium price and equilibrium quantity in the market for soda beverages? c) How much consumer surplus and how much producer surplus…Suppose demand and supply are given by Qd = 60 - P and Qs = P - 10. Suppose that new consumers enter the market (higher preference for the good), increasing the demand by 20 units at each price. At the same time, suppliers are using a new technology that increased production by 12 units at each price. Calculate producer surplus:Read the following scenario. Corn is a very valuable product for which the U.S. government routinely offers subsidies. With no price support, the equilibrium price for corn is $300 per ton and the equilibrium quantity is 500 million tons per year. Suppose that the government agrees to pay farmers $350 for every ton of corn they produce and can't sell in the market. According to the farmer's market supply curve, 600 million tons per year is supplied at the price of $350 a ton, so production should increase to this amount. However, domestic users of corn cut back their purchases. Only 450 million tons a year is demanded at the price of $350 a ton, and purchases decrease to this amount. Farmers continue to produce 500 million tons of corn per year, so because they produce a greater quantity of corn than domestic buyers are willing to purchase, something must be done with the surplus. To make the price support work, the government decides to buy the surplus. Step 2 Use the scenario to…
- Market demand for Mandrake roots is given by Q=305-2P and marketsupply is given by Q=5P. The market is initially in equilibrium.The government imposes a price ceiling of $9. What is the CHANGE in Producer Surplus due to the price ceiling?Assume competitive markets.The municipality is planning to build a huge monument, buying marble from the domestic market, which is efficient. An independent study has previously estimated the local demand and supply of marble as ??=25−0.2? and ??=−5+?, respectively. If the demand due to this project is expected to change to ??=49−0.2? (the quantity is measured in square meters and the price in dollars): What is the value of the change in the total surplus caused by this project?the supply curve for product x is given by QxS= -340 + 10Px a. find the inverse supply curve P= + Q b. how much surplus do producers recieve when Qx= 350. when Qx= 1000
- Option 2: Improving Equilibrium Outcomes When a market is competitive and functioning properly, economic theory predicts that the market equilibrium will be efficient. However, this may not always be the desired outcome. Market outcomes may be unequal or distorted by market failure. What effect will this solution have on consumer surplus, producer surplus, social surplus, and deadweight loss? Explain.A farmer can sell 10 tons of corn at market price $2,000 per ton. In order to sell one more ton of corn, the farmer: Can sell it for $2,000. Cannot sell anymore because the market is in equilibrium. Should raise its price above $2,000. Must sell it for less than $2,000.Excessive consumption of soft drinks is positively correlated to the incidence of diabetes. Assume that the private total cost of production is PTC(Q)= Q^2 + 2Q.The social cost of soft drinks production is STC(Q)=11.5Q^2.The total benefit of soft drinks production is TB (Q)=50Q-Q^2.What quantity of soft drinks would be produced in a perfectly competitive market? What tax should the government impose to achieve the socially optimum quantity of soft drinks traded?
