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Q: What is producer surplus ?
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Q: A surplus occurs when the price is?
A: Changes in price can determine the volume of surplus.
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Q: Explain the difference between Consumer and producer surplus?
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Q: Producer surplus measures: A. The same thing as a market or quantity surplus B. The…
A: ANS The producer surplus (PS) is obtained by subtracting the price level at which the producer…
Q: What are the factors that caused the consumer surplus?
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Q: CONSUMER SURPLUS in this market is: $ PRODUCER SURPLUS in this market is: $ Total surplus in this…
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A: Total Surplus = Consumer Surplus + Producer Surplus
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Q: Suppose the prevailing price is $9 per bushel. Is there a shortage or a surplus in the market?
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- How will each of the following demand and buppyaffects euelionium price and exuelibrium quantityi market: Competitive @Demand deereatee and Sepply is ConstantCayden Roa owns the Red Deer Pythons. A professional Soccer team Each time the team plays in Pythons Stadium it costs Cayden $111.000 for rent, staffing, stadium preparation, etc: Cursent ticket prices for a Pythons home game are $17 per ticket, and an average game draws 6150 fans which is only 41% the Stadium's capacity. Since Cayden studied economics he knows that the market for Soccer games in Red Deer is not at equilibrium Tok Pr 264 14- 12- 4000 5000 7200 6400 Number of Tickets Sold Q Q C USE CHART ABOVE AND TABLE BELOW TO ANSWER FOLLOWING QUESTIONS (3 Points) What is the Equilboum Price? What is the Equilbrum Quantity 201 What needs to occur for equilibrium to be reachediefer to question for current situation?Use the folowing graph for a competive market to arswer the question below. Aprce noor or 3 v per unit was result in Mueple Choke. thorage of 200 ints wonto of 200 ints No unowe e wast So iners teing raded
- QUESTION 11 A market for clocks is in equilbrum You are told that marginal costs of producing clocks is constant at P 25 (Then the oply carvei You dont know anything sbout the demand curn What is producor surplus in this market?Hi I need help with this gr 11 economic question. Could someone explain the elasticity of demand and supply for Luxottica's product/industry?A friend of yours is considering two cell phone service providers. Provider A charges 120 per month for the service regardless of the number of phone calls made. Provider B does not have a fixed service fee but instead charges 1 per minute for calls. Your friend's monthly demand for minutes of calling is given by the equation QD = 150 50P, where P is the price of a minute. a. With each provider, what is the cost to your friend of an extra minute on the phone? b. In light of your answer to (a), how many minutes with each provider would your friend talk on the phone? c. How much would she end up paying each provider every month? d. How much consumer surplus would she obtain with each provider? (Hint: Graph the demand curve and recall the formula for the area of a triangle.) e. Which provider would you recommend that your friend choose? Why?
- Some years ago. two intercity bus companies, Greyhound Lines, Inc. and Trailways Transportation System, wanted to merge. One possible definition of the market for this case was the market for intercity bus service. Another possible definition was the market for intercity transportation, including personal cars, car rentals, passenger trains, and commuter air flights.' Which definition do you think the bus companies preferred, and why?Say in a market we haveDemand is P = 5 – 0.005QSupply is P = 0.00125Qa-you will have a graph with price on the vertical axis and quantity on the horizontal axis formost parts of this problem. You will want to show intercept values and equilibrium values withthe specific values from the problem (when you graph the supply show it go out at least to thesame level of Q as the Q intercept for the demand curve).b-what are the equilibrium price and quantity traded in the market?c-say the government levies an excise tax in the market of 50 cents that renders the supply tonow be P = .00125Q + 0.5 (essentially the supply curve shifts up by 50 cents at each quantity).What are the new equilibrium price and quantity traded in the market with this excise tax?d-did the market price increase by as much as the 50 cent tax? (compare the market priceincrease with the amount of the tax of 50 cents)e-what is then loss in consumer surplus from the tax? Do consumers like excise taxes?f-what is the elasticity…The Market for Home Security Ereglies Frames Cameras Example 2 update: In the last few years, major technology companies have R Glesses Ortoto Meris Metal Matte Black Rectengle Eysglasses Onine. Zenni Square Prescription VS Waterloo Aralable Gbsses ack Wth Blue Light. Rimiess Cuting $29.68 $35.20 GlaesesUSA.com $9.00 $6.95 EyluyDrect.com Zenni Optical Wish ring The Market for Glasses Example 1 update: Recently there have been several companies bought up small home "smart" device selling glasses online direct to consumers companies. for as little as $7. Some even offer a subscription plan where you get a new pair Google bought up Nest and Amazon bought of glasses every month. Zenni Optical recently started advertising online and using use than other home security products since celebrity spokespeople to enhance their brand. Ring. Now Nest and Ring are much easier to they can use Alexa and "Hey Google." in a much easier way than producers not owned Zenni optical has sold over 20 million…
- what are the reason/s of banning McDonald’s from other country’s?How will. each of the following demand and Leeppy affecte eqpelibniuem Prkce and equilibrium quantity Competitive in market: @Supply deereases and demand iK constantQuestion H a Siven the table below, Calculote the average physicol product and morginol physicol produCf Heput lotal physicol Prodoct Aueroge Physicol Pineluct Marginal Physzcol Procuct 4. 24 6)Assume that demand for a commodity Maize is repiesented by the equetion R Ps10-0.2QP ond supply bythe equotion P=a+Du2@s, where Qd and @s are quantity demonded (ng) and Sopploed by Chg),respectiwoly, ond Pis price (us Dolbras) 1 Using the equilibicum Condition Os= Ad, solue the equotions to determine equilibrium price and eqailibium quantity. iJNow,assume that the gover ament intervenes by imposong a morket puce of 18 tor maize. What will be-che market Sutuotion Creadedl la tit this now morhet 19) How can you aduise the with the market situction created in f) ebove?
