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- Samsung sells its 16in monitors to Apple for £85 per screen. Its estimated cost is £49 andApple is willing to pay up to £99. The value creation (VC) and consumer surplus (CS) in thiscase are equal to:a. VC=£50 , CS=£14.b. Impossible to say.c. VC=£36 , CS=£14.d. VC=£99 , CS=£36please anwer ponit no:- 4, 3 and 2. (It will be nice if u answer all points)don't chat gpt answer i will 5 upvotes urgent. An automobile that you own could be considered a rival good, while flood control might be a good example of a non-rival good. Select one: O True O False
- In Figure 2, what is the Net Benefit to Society (Steel Producer and Laundry Firm) from increasing steel production from S0 to S*? Describe why a move from S* to Su is not welfare enhancing for society (society here means the Steel Producer and Laundry Firm)Need explanation how we got 11.5b) Discuss and explain the concept of positive return toscale showing it relationship with the quantity ofproduction.
- You are importing ladies cotton sweaters from Italy. The FOB Naples contract price is $20.00/pc. International ocean freight is $1.00 and commission due to the buyer’s agent is $1.00/pc. The rate of duty on ladies cotton sweaters is 10%. The dollar amount of duty is: (a) $2.00 (b) $2.10 (c) $1.90 (d) $2.2012. Government prefers to reduce imports with a tariff instead of a quota depends on whetherA. imports are completely eliminatedB. consumer demand is elastic.c. the demand curve is downward slopingD. barriers prevent new firms from enteringE. production costs are.constant. ThanksCountry A has a competitive domestic market of charcoal. The demand and supply of the domestic market are given by QD = 12– 3P QS = P Country A has access to the international market, in which the charcoal price is Pw = 1. The domestic market is small and cannot influence the international price. a) What will be the price at which charcoal is traded in the domestic market? What will be the quantity produced in country A and what quantity will be exported/imported? b)Calculate the producer surplus and consumer surplus in country A and illustrate them in a demand and supply graph. c) Suppose charcoal’s price increases to PW=4 in the international market. What are the quantity demanded and the quantity produced in country A? What quantity does country A export/import? d) How does the price increase (from Pw =1 to Pw =4) change the consumer surplus and producer surplus in country A? Explain the changes in no more than 2 sentences. e) When Pw =4, the government in country A decides to…
