What is consumer surplus

Q: Graphically, how is the consumer surplus measured? A. the area under the demand curve and above the…

A: The surplus of consumers is a measure of consumer wellbeing. It is defined as the difference between…

Q: what is elasticity

A: Elasticity: It is the change in one variable due to a change in another variable. It shows the…

Q: As a result of the decrease in the price Kacang Ngan Yin Cap Tangan, consumers buy more Kacang Ngan…

A: The demand for a good shows that there is an inverse relationship between price and quantity…

Q: What is surplus by yanis varoufakis

A: Yanis Varoufakis, Greece's current finance minister, talks about a "surplus recycling mechanism," a…

Q: Which of the following statements is/are true about inferior good? It is a good whose demand curve…

A: Demand for goods shift to the right when people start consuming more and demand shift to the left…

Q: What is the Pricing Theory?

A: Pricing theory refers to a microeconomic principle that employs supply and demand to establish the…

Q: John bought a new iPhone13 for $1,271. He values the phone at $2,046. Tom values the phone at…

A: On the off chance that the item cost is higher than the market cost, the producer surplus…

Q: Consider the demand for an inferior good illustrated in the graph below. Suppose income increases.…

A: Inferior goods are those goods whose demand falls when the income of the consumer increases. This…

Q: If two supply curves in an economy intersect which one will have a higher price elasticity?

A: According to the given question A supply curve can be defined as a curve which causes different…

Q: Jungkook bought a new iPhone13 for $1,133. He values the phone at $1,748. Suga values the phone at…

A: A surplus is a level of an asset that exceeds the share consumed. An inventory excess happens when…

Q: In the case of a Giffen good, the demand curve will be A. Horizontal B. Downward to the right C.…

A: Giffen goods are those goods which are necessity, low income goods, for which price and quantity…

Q: Consider the market for coffee. You notice that when a consumer's income changed from $8,086 to…

A: Given information: Initial income: $8,086 Final income: $3,240 Initial quantity demanded: 64 Final…

Q: effective demand

A: Demand shows the relationship between the price and quantity demanded of a commodity at a particular…

Q: The following table Q18 shows a portion of the demand schedule for a particular good at various…

A: Price elasticity of demand measures the responsiveness of quantity demanded with respect to change…

Q: Consider the demand for an inferior good illustrated in the graph below. Suppose income decreases.…

A: When people's incomes rise, the demand for an inferior good decrease, making it an economic term. As…

Q: What does supply and demand determine in the home pricing market

A: Supply and demand are the basic concepts of microeconomics, market conditions depend on supply and…

Q: Consider two markets: the market for coffee and the market for hot cocoa. The initial equilibrium…

A:

Q: What is the consumer surplus when the price is $20?

A: option c is the correct Answer Consumer surplus $1000             Explanation shows below :-

Q: in decamber,the price of christmas trees rises and the quantity of trees sold also rises.is this a…

A: Demand:It is the willingness to buy goods and services at the market price. However, the demand for…

Q: Consider two markets: the market for coffee and the market for hot cocoa. The initial equilibrium…

A: Through the midpoint, we can calculate the elasticity of supply. The formula for the elasticity of…

Q: What are the factors that caused the consumer surplus?

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Q: how all your caleulations elearty. The following table shows some information about the demand…

A: The measure that depicts the change in quantity being demanded of products with respect to change in…

Q: What is Demand curve?

A: Demand is a concept that refers to the desire of a consumer to buy services and goods and the…

Q: Explain the following terms: A. Shift in consumer preferences B.shift in conaumer taste

A: Consumers are the individuals who participate in economic transaction as demand-side participants. A…

Q: Consider two markets: the market for coffee and the market for hot cocoa. The initial equilibrium…

A: Solution A) Elasticity of supply is defined as the responsiveness of supplied quantity with the…

Q: What are the giffen goods explain with example

A: Giffen goods are those for which the demand falls with a fall in price and rises with a price…

Q: Briefly explain how subsidizing the purchase of good "X" could end raising the price of good "X"

A: If good x is subsidized,then price of good x would decrease.Therefore there will be the situation of…

Q: If there is a surplus of a commodity, then, the price will rise إخكر واحدان thi O

A: Disclaimer: Since you have asked multiple questions, we solve the first one for you. If you require…

Q: Total surplus in this market is s million.

A: ‘Total surplus’ is the total consumer's surplus added with the total producer’s surplus. The…

Q: Suppose the below table shows your demand schedule for CDs. Quantity Demanded Price $10 8 6 4 2 (a)…

A: In the mentioned question we have to calculate total utility , marginal utility and consumer surplus…

Q: Answer the next 2 questions according to information below: Suppose that Consumer A's demand for the…

A: Good X and Good Y are close substitutes which means they are used in place of one another. Increase…

Q: llustrate in a graph the table below, and a demand curve that will clearly show the performance of…

A: The graph shown in below:

Q: What is the relationship betweensupply and demand?

A: In economic theory the law of demand and supply are considered to be one of the fundamental…

Q: Can consumer surplus be zero? If yes then in what scenario does this happen?

A: The formula for consumer surplus is:- = Maximum willingness to pay - Market price Every Consumer has…

Q: What is inelastic demand?

A: The elasticity of demand:  It refers to the responsiveness of a quantity demanded of a good to…

Q: Ayana is pitching an idea for a startup company that makes and sells solar-powered phonechargers…

A: Let us understand this, with associating values in the equation, Let the income (I) be 1000; Let PC…

Q: cones $4.00 $3.50 $3.00 $2.50 Demand Quantity of ice eream cones Figure 4-1 shows Kendra's demand…

A: A rational consumer will consume the commodities when they get utility equals to their money utility…

Q: Jen from Thunder Bay consumes housing (H) and food (F). Her student stipend is $600/month. She has a…

A: We know, Jen’s utility-maximizing bundles are H*= 80 and F* = 200 Thus,  her utility level using the…

Q: There are two consumers in the market for one good (with price P), A and B. Consumer A's inverse…

A: There are two ways to findout market demand at the given price  1. Using individual demand curve to…

Q: if the price fall from p0 to p1, the change in consumer surplus is equal to what area?

A: Consumer surplus is the difference between the maximum willingness to pay for the good and actually…

Q: Answer the following questions: 1. What is a Giffen good and what is a Veblen good? What are price…

A: Commodities can be devided into different categories based on their nature of demand changes…

Q: 3. Asurplus is when there is more supply than there is demand. You can find it by subtracting the…

A: Surplus is the amount of a good which exists when quantity supplied is more than the quantity…

Q: What happens if a consumer's income increases and the supply remains constant?

A: Income of consumers and quantity demanded are positively related.

Q: What is surplus

A: When there is a mismatch between supply and demand for a commodity, or when some people are ready to…