Which of the following is generated if market price exceeds the price at which producers are willing to sell? O Producer surplus OLRAS O Deadweight loss
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- Consider a perfectly competitive market for apples, with the following demand and supply equations: D: P = 2,000 – Qd S: P = Qs – 1,990 equilibrium price: $5 equilibrium quantity: 1995 A farmer, Jodi, faces the following marginal cost: MC = q – 2, and is making profit in the shortrun. What is the equilibrium price and quantity for farmer Jodi?The U.S. government subsidizes U.S. soybean farmers. When the government payssoybean farmers to produce the market price of soybeans _____ and the farmer’s marginal costs of producing ______.a. decreases; increasesb. increases; decreasesc. increases; increasesd. decreases; decreasesMarket Equilibrium A retail chain will buy 800 televisions if the price is $350 each and 1200 if the priceis $300. A wholesaler will supply 700 of these televisions at $280 each and 1400 at $385 each. Assumingthat the supply and demand functions are linear, findthe market equilibrium point and explain what itmeans.
- The price of a good is $50. The market for this good is perfectly competitive. The marginal cost that afirm producing these good faces is MC = 4 + 0.5Q, where Q is the quantity of good produced. Howmany units of the good does this firm produce? Show your mathematical workThe market for used phones is perfectly competitive. The Marginal Willingness to pay (MWTP) and the Marginal Costs (MC) for the buyers and sellers in used phon market are given in the table below. If they buy a phone, each buyer purchases only 1 phone. If they sell a phone, each seller sells only 1 phone. What is Total Surplus in the used phone? Remember all market trades are voluntary. Enter a number only. Do not enter the $ sign.Assume the market for beef is highly competitive. The market demand for beef is QD=40-2P where P is in dollars per pound and Q is billions of pounds of beef. The market supply for beef is QS=-10+8P. Calculate equilibrium market price, P*, quantity, Q*, and consumer surplus. Step by step please.
- What happens to the market price when a producer in a competitive marketincreases its output?Producers' Surplus The manufacturer of a brand of mattresses will make x hundred units available in the market when the unit price is p = 50 + 90e0.06x dollars. (a) Find the number of mattresses the manufacturer will make available in the marketplace if the unit price is set at $200/mattress. (Round your answer to the nearest integer.) mattresses (b) Use the result of part (a) to find the producers' surplus if the unit price is set at $200/mattress. (Round your answer to the nearest dollar.) $Kindly answer Letter A. What is the market price of product X? Round-up to two decimals. Please show COMPLETE solution
- The table below shows the demand and supply for soybean in Anderson County, South Carolina. A) Graph the demand and supply curves below and indicate the equilibrium price and quantity. B) Based on the market equilibrium above, compute the total income of soybean growers in the region. Supply Price Demand 60 4 150 80 8 140 100 12 130 120 16 120 140 18 110The market for used phones is perfectly competitive. The Marginal Willingness to pay (MWTP) and the Marginal Costs (MC) for the buyers and sellers in used phone market are given in the table below. If they buy a phone, each buyer purchases only 1 phone. If they sell a phone, each seller sells only 1 phone. What is Total Surplus in the used phone? Remember all market trades are voluntary. Enter a number only. Do not enter the $ sign.Refer to the accompanying figure. When this market is in equilibrium, total producer surplus in the market is Price ($/restaurant meal) 60 50 40 30 20 10 O 0 S D 5 10 15 20 25 30 35 40 45 50 Quantity (restaurant meals/day) per day. 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.
