McConnell, Economics AP Edition (A/P ECONOMICS)
20th Edition
ISBN: 9780021403233
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 4, Problem 2RQ
To determine
Changes in output to achieve efficiency in production.
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Suppose a demand curve has a vertical intercept of (0,80). Suppose a supply curve has a vertical intercept of (0,0). The equilibrium price is $30 and the dollars. equilibrium quantity is 40. The total surplus is
O 800
O 1600
O 2400
O 3200
O 560
O 620
QUESTION 4
For a non-competitive firm with a demand curve P = 1800-2Q and marginal costs of MC = $200, how much is the equilibrium price (P*)?
O $500
O $750
O $1000
O $1250
QUESTION 5
For a non-competitive firm with a demand curve P = 1800-2Q and marginal costs of MC = $200, how much is the consumer surplus or
net consumer value?
O $160,000
O $480,000
$560,000
O $620,000
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1p
1 p
Feb 28
QUESTION 10
Assume that Japan is the main supplier of cars to the US. Japanese supply is given by Qs = 40p. American demand is given by Qd =
8000-10p. What is the price in this market.
80
100
160
O 200
QUESTION 11
What is US consumer surplus.
578 thousand
O 245 thousand
O 2.048 million
O 1.025 million
QUESTION 12
What is Japanese producer surplus.
700 thousand
512 thousand
500 thousand
1.4 million
Chapter 4 Solutions
McConnell, Economics AP Edition (A/P ECONOMICS)
Ch. 4.A - Prob. 1ADQCh. 4.A - Prob. 2ADQCh. 4.A - Prob. 3ADQCh. 4.A - Prob. 1ARQCh. 4.A - Prob. 2ARQCh. 4.A - Prob. 3ARQCh. 4.A - Prob. 1APCh. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - Prob. 3DQ
Ch. 4 - Prob. 4DQCh. 4 - Prob. 5DQCh. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - Prob. 1RQCh. 4 - Prob. 2RQCh. 4 - Prob. 3RQCh. 4 - Prob. 4RQCh. 4 - Prob. 5RQCh. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7P
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