Using the graph calculate the consumer surplus, producer surplus, and total surplus

Q: Consider the following cost function.   a. Find the average cost and marginal cost functions. b. Det...

A: Average cost refers to total cost per unit of output. Marginal cost refers to change in total cost w...

Q: 2. Sadiq thinks he can sell Rs.4,200,000 worth of hardware in a year. What would his accountant cons...

A: the opportunity cost of a particular activity option is the loss of value or benefit that would be i...

Q: 4. Suppose there are two firms selling mobile phones along Luthuli Avenue. Firm I sells high quality...

A: ** Noted a typo, firm 1 buys high quality phones in line 2*** i. Consumers want to pay  $14000 for a...

Q: At a flea market, Jodi purchases a second hand teapot for $8 when she was willing to pay $41. If the...

A: As per Bartleby's policy, I am providing you with the answer to the first question. You are requeste...

Q: Please provide an example showing the use of Econometrics for a specific economic concern.

A: Concept: Econometrics is very much the quantitative implementation of mathematical and statistical m...

Q: In a study, by economist Paul Gertler and Jacques van der Gaag, it was found that the price elastici...

A: Given: The elasticity of demand for poor households=0.67 wealthy households=0.29 Increase in the pri...

Q: Q4) Assume a market of a specific good. The demand and supply equation is as shown below: Po = 70 – ...

A: First we find the market equilibrium. For that we equate the demand and supply. 70-3Q=5+2Q⇒5Q=65⇒Q*=...

Q: Suppose that a firm's marginal abatement cost function with existing technologies is MAC = 8 - E. If...

A: Abatement costs are the price of removing undesired byproducts produced during production. Governmen...

Q: Given four proposals for funding a new project with a 100M limit on capital funding and the MARR is ...

A: External Rate of Return is found out using following steps : => Discount all the cash outflows to...

Q: LEIS company is planning to borrow P10.5M for a company expansion and is not sure what the interest ...

A: *SOLUTION :-   

Q: YAS 742 + 15P – 28Poil YAD = 478 – 45P+ 18G Suppose initially, the Poil = $93 per barrel and governm...

A: Answer- "Thank you for submitting the question .But, we are authorized to solve only 3 sub parts.For...

Q: A local government is considering introducing a tax on Which good hould they tax if they want to min...

A: Deadweight loss occurs due to inefficient quantity produced. Elasticity helps in determining which g...

Q: A population has a mean of 1398.25 and standard deviation of 246.85 12 What fraction of t...

A: μ = Population Mean = 1398.25σ = Population Standard deviation = 246.85 N = Sample size = 82 Here, M...

Q: New line D Quantity Suppose that the production of paper results in waste material being dumped into...

A: Externality refers to spill-over effect of production or consumption of the good on the third party ...

Q: le and female workers in 1970 are given by: Wm = 500 + 100s Wr = 300 + 75s 14 years of schooling and...

A: *Answer: 

Q: QUESTION: What is the difference between price inelastic and price elastic

A:   Meaning of Microeconomics: The term macroeconomics refers to that situation under which the econom...

Q: Labor Input to Produce Chairs and Tables Spain 1 Morocco 3 Chair Table 10 5

A: TRUE It can be concluded from the given schedule that Spain has a comparative advantage in the produ...

Q: Using the model for a closed economy, if the nominal wage is $40 and we have a Cobb-Douglas producti...

A: Cobb douglas production function: Y = KαL1-α α = 0.2 (given) => Y = K0.2L1-0.2 => Y = K0.2L0.8...

Q: government is not able to decide whether it will be consumers or producers will pay a tax.

A: To find : Why government can't decide who will pay tax. 

Q: The Triangle Shirtwaist Factory Fire and the Tazreen Factory Fire were similar in many ways, includi...

A: A fire broke out on the ground level of Tazreen Fashions in a Dhaka suburb on November 24, 2012. 112...

Q: Refer to the information provided in Table below to answer the question(s) that follo Price per Unit...

A: Nominal GDP measures the value of goods and services at current year market prices while real GDP me...

Q: The diagram below represents the market for education. Assume that education provides several extern...

A: Positive externality is the external benefit society gets by the production or consumption of the go...

Q: Suppose that a firm's marginal abatement cost function with existing technologies is MAC = 12 - E. I...

A: Existing technology  MAC = Tax   =>    12 - E = 4      => E= 8 Total Abatement cost (TAC) =  1...

Q: The game to the right is called the dating game. It's origins go back to the early 1950s. Player 2 S...

A: This is an example of a game involving two players who wish to attend a concert by Bach and Stravins...

Q: Country Y Price Odd Osd $ 9.00 250 450 8.00 300 400 7.00 350 350 6.00 400 300 5.00 450 250 The accom...

A: Whether a country imports or exports depends on difference between quantity demanded and quantity su...

Q: Sam invested a total of $100,000 into a project, and his total profits to date sum up to $120,000. W...

A: Given information: Investment amount = $100000 Total profit = $120000  

Q: Consider a consumer with the following quasi-linear utility function Assume that the consumer faces ...

A: *Hi there , as you have posted question with multiple sub parts , following are guidelines we can on...

Q: YAS = 742 + 15P - 28 Poil YAD = = 478 - 45P+ 18G Suppose initially, the Poil = $93 per barrel and go...

A: Answer - "Thank you for submitting the question. But, we are authorized to solve only 3 subparts. Fo...

Q: The following table shows the amounts of additional satisfaction (marginal utility) that Ross would ...

A: Consumer will maximise utility at a point where marginal utility per dollar for two goods are equal....

Q: What I have Learn Answer the following question on a different answer sheet. 1. Why data is importan...

A: 1. Importance of data in statistics The study of learning from data is referred to as statistics. St...

Q: Below is an Edgeworth box of two individuals, Ross and Rosa, in the consumption of two goods, X and ...

A: Hi! As per Bartleby's guidelines, I am providing you with the answers to the first three subparts. Y...

Q: What happens to consumer and producer surplus when the sale of a good is taxed? How does the chang...

A: Consumer and Producer surplus The consumer surplus  basically refers to the difference between what ...

Q: 2. Assume a competitive firm with a cost function c(y) = y? + f. Prove that producer's surplus equal...

A: A cost function is a formula used to predict the cost that will be experienced at a certain activity...

Q: What is a project?  (speaking of economic engineering

A: A project (or programmed) is any individual or group effort, sometimes involving research or design,...

Q: lack to Assignment Attempts Do No Harm/2 5. Understanding the cost disease of personal services Thre...

A: Answer-

Q: Please give the stages of public policies

A: Following are the stages of public policies:

Q: Given four proposals for funding a new project with a 100M limit on capital funding and the MARR is ...

A: When net benefits become equal to net cost then such a condition is termed as Internal rate of retur...

Q: Identify which market structure the following products are likely to fall under based on the charact...

A: Market structure, basically refers to the structure that classify different industries according to ...

Q: Suppose two firms compete as Cournot Oligopolists. The profit functions of these two firms are IT = ...

A: Given Information: Profit =Total Revenue -Total Cost Profit= P*Q -TC Using the given profit equatio...

Q: When an excise tax is imposed on sellers, the of the tax. curve shifts by the amount supply; downwar...

A: Correct answer "supply; upward".

Q: 2) Two firms, A and B, are each considering developing a new iPhone app. Whichever firm is the first...

A: Answer -

Q: A firm produces shoes using L (labor) and machines (K). Its production function is Q = K1/3 L2/3. A...

A: Q = K1/3  L2/3  K fixed at 8, Price of capital (r) is $4  Wage(w) is $2

Q: The First National Bank of the United States failed to remove its charter in part because their were...

A: The First National Bank of the United States work well with profit initially. Many economic historia...

Q: The degree of inequality in the distribution of income in an economy is depicted in aln O Lorenz cur...

A: The Lorenz curve is a representation of the distribution of a metric – consumption, wages, education...

Q: 3. A perfectly competitive individual firm operates in a constant cost industry and produces a level...

A: This is a perfectly competitive individual firm where by the quantity produced by the firm is as per...

Q: A plant is interested in acquiring a machine to produce a new product. Three altematives, A. B. and ...

A:   A B C Investment Cost  20800 34000 16000 Annual cash flows  10000 9200 10900 Salvage value  ...

Q: Problem 5 Refer to problem 4. A new minimum wage of $20 has been enforced. What is the surplus?

A: Surplus: When supply exceeds demand Labour supplied at the new wage $20 is: Qs=1000+20*(20) Qs=1400 ...

Q: 2020 quantity 50 20 5 Assume a hypothetical economy where consumers buy only potatoes, meat and fish...

A: Inflation is the rate at which the value of a currency is falling and, consequently, the general lev...

Q: Problem 6 Consider a market that sells individual marbles. Qs=2+2*P Qd=11-P A $3 tax on consu...

A: Market Demand : Qd=11-P Market Supply : Qs=2+2P Before Tax Qd=Qs 11-P=2+2P 3P=9 P*=3 Q*=8 In the dia...

Q: If the following table is given for product X, draw the graph with the supply and demand curves and ...

A: