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- if marco is a seller of shirts and he sells a shirt for 48 dollars , which results in him having a producer surplus from the sale equal to $8 , what is his cost of production? a. 48 b. 32 c.8 d. 4015. Suppose a supply curve(in dollars per unit) is S(q)= 20+7e0.014 . Find the price at which 7 units will be supplied and compute the producer's surplus at that price. Make sure to state in complete sentence with correct units.Coffee beans are an input in the production of lattes, and lattes and cookies are complements. A rise in the price of coffee beans will cause in the total surplus in the cookie market. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a rise a fall c nothing to change a rise and then a fall
- Producer surplus is measured using the demand curve for a good. always a negative number for sellers in a competitive market. the amount a seller is paid minus the cost of production. O the opportunity cost of production minus the cost of producing goods that go unsold.Figure Producer Surplus Price is P1 B P2 D P3 F. Quantity Identify the area that represent the additional gain in producer surplus when the price rises from P, to P7. Producer surplus for an individual and a market Suppose the market for quiche is perfectly competitive, so sellers take the market price as given. Jake manages a restaurant that offers quiche for sale. The following graph plots Jake's weekly supply curve (orange line). Point A represents a point along his supply curve. The price of quiche is $2.25 per slice, which is given by the black horizontal line. PRICE (Dollars per slice) 9.00 8.25 7.50 6.75 6.00 5.25 4.50 3.75 3.00 2.25 1.50 0.75 0 Price Supply 02 4 A Jake's Weekly Supply 6 8 10 12 14 16 QUANTITY (Slices of quiche) 18 20 22 24 ?
- 7. Producer surplus for an individual and a market Suppose the market for macaroons is perfectly competitive, so sellers take the market price as given. Musashi manages a bakery that offers. macaroons for sale. The following graph plots Musashi's weekly supply curve (orange line). Point A represents a point along his supply curve. The price of macaroons is $2.25 per macaroon, which is given by the black horizontal line. PRICE (Dollars per macaroon) 9.00 8.25 7.50 + 6.75 6.00 + 5.25 4.50 3.75 3.00 - 2.25 1.50 0.75 + 0 0 Price Supply Musashi's Weekly Supply 6, 1.5 * A 2 4 6 10 12 14 16 18 QUANTITY (Macaroons) 8 20 22 24 ? Using the previous graph, you can determine that Musashi is willing to supply his 6th weekly macaroon for $ macaroon, the producer surplus earned from supplying the 6th macaroon is $ Since he receives $2.25 per Suppose the price of macaroons were to rise to $3.00 per macaroon. At this higher price, Musashi would receive a producer surplus of $ from the 6th macaroon he…Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations:a. The price of input A decreases. It will not change. It will increase. It will decrease. b. An excise tax of $3 is imposed on good X. It will not change. It will increase. It will decrease. c. An ad valorem tax of 7 percent is imposed on good X. It will increase. It will not change. It will decrease. d. A technological change reduces the cost of producing additional units of good X. It will increase. It will decrease. It will not change.7. Producer surplus for an individual and a market Suppose the market for cinnamon rolls is perfectly competitive, so sellers take the market price as given. Paolo manages a bakery that offers cinnamon rolls for sale. The following graph plots Paolo's weekly supply curve (orange line). Point A represents a point along his supply curve. The price of cinnamon rolls is $2.25 per roll, which is given by the black horizontal line. PRICE (Dollars per roll) 9.00 8.25 7.50 6.75 6.00 5.25 4.50 3.75 3.00 2.25 Price 1.50 A 0.75 Supply Paolo's Weekly Supply 0 0 2 4 6 8 10 12 14 16 18 20 22 24 QUANTITY (Rolls) (?) Using the previous graph, you can determine that Paolo is willing to supply his 6th weekly roll for $ producer surplus earned from supplying the 6th roll is $ Since he receives $2.25 per roll, the Suppose the price of cinnamon rolls were to rise to $3.00 per roll. At this higher price, Paolo would receive a producer surplus of $ 6th roll he sells. from the The following graph plots the…
- D Question 5 In the graph, producer surplus is equal to 10 D 6. $12 $30 $54 $60 Question 602. Assuming this market is at equilibrium, the producer surplus is $ _______. a) 9 b) 12 c) 21 d) 54 e) 72 f) 102 g) 126 h) 144 i) 156 j) 228 k) 252The equilibrium price, p * , in a market is the price that makes: O The quantity offered is equal to the quantity demanded O The market works best O The consumer surplus will be as large as possible O The profit will be the largest possible
