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- what are the determinants of the produce surplusin a market ?how does it increse depend on the determination ? LEGO 7 8 01 4 5 1 2 P Q Y UI A D F H J K L 1 TCreate an o riginal graph in equilibrium like the one in the last problem. Label everything, including the letters that would correspond to CS, PS, etc. Gooo A... Price 30-00+ 20.00 10.00- 0.00- 5 S 0.00 20.00 30.00 Quantity ix. original consumer Surplus? k. original producer Surplus? Xi. Total Market Surplus? équilibrium 10,00 In equilibrium what are the letters and the total dollar amounts that correspond to the area for the... xii. New Consumer Surplus? xiii. New Producer Surplus? 40.00 Xiv. Area that was transferred? XV. Dead weight Loss? Xvi. Remaining Surplus? 50.00 Assume an effective quota has been placed on the market changing the quantity by 2,000 units. Show what happens when an effective price floor is placed on this market. what are the letters and the total dollar amounts that now correspond to the...20 Demand Supply 18 16 14 さ12 10 8. 12 14. 16 20 QUANTITY Which of the following statements is not correct? When the price is 510.quantity supplied equala quantity demanded. DWhen the price is 512.shere is a surplus of 4 units. 0When the price is S16.quantity supplled exceecs ouantity demanded by 1 units. When.the price ls S6 there is a surplus of8units. PRICE
- The weekly supply and demand for cupcakes in a small town are given as OS = 30P- 20 and Q = 124 - 18P, where P is the price of a cupcake and Q is measured in thousands per %3D week. a. Find the equilibrjum price and quantity. b. Calculate the corsumer and producer surplus at the equilibrium price.Qu A production quota set below the equilibrium quantity creates a decrease in marginal cost .a O a rise in priceb O Score all choices of this question are correct .c O a decrease in supply .d OHow will. each of the following demand and Leeppy affecte eqpelibniuem Prkce and equilibrium quantity Competitive in market: @Supply deereases and demand iK constant
- Figure 3-15 Price P2 в P1 Q1 Q2 Quantity Refer to Figure 3-15. Which area represents producer surplus when the price is P1? BCE ACF ABED DEFHow does a market reach equilibrium without any outside intervention? Explain using the supply and demand concept. Please use proper graph.Thank you sir.Total surplus is maximized at the equilibriumprice and quantity. When demand increases,price increases. Explain how total surplus is stillmaximized if price increases due to an increase indemand
- use diagramsa. What is the effect on the equilibrium price and quantity traded in market of theintroduction of a new technology that reduces costs of production for all firms?b. What is the effect on the equilibrium price and quantity traded in a market of a changein tastes that reduces the demand for the product?c. What is the effect on the equilibrium price and quantity traded in a market of theimposition of a tax per unit sold on suppliers?d. What is the effect on the equilibrium price and quantity traded in a market of thepayment of a subsidy per unit sold paid to suppliers?what are the determinants of the produce surplusin a market ?how does it increse depend on the determination ?What is producer surplus, and how is it measured? What is the relationship between the cost to sellers and the supply curve? 2. Why do flounder populations face the threat of extinction while goidfish populations are in no such danger The government often intervenes when private markets fail to provide an optimal level of certain goods and services. For example, the goverment imposes an excise tax on gasoline to account for the negative extemality that deivers impose on one another. Why might the private market not reach the socially optimal level of traffie on the road without the help of goverament? A key difference berween accountants and economists is their ditferent treatment of the cost of capital Does this cause an secouutants estumate of total costs to be higher or lower than an economist's estimate? Explain
