he was Suppose that the demand for porcelain lupines is given by P-18 - 0.25 Q. If the market price is b, consumers' surplus equals a. 18. b. 144. C. 288. d. 576 C. None of the above.
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- Only typed answer Find the consumer surplus. Supply: Q=2P. Demand: Q=100-5PTotal 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 indemandRemaining Time: S Suppose the demand for Apples is given by QA = 240 - 8 PA and the current market price is 25. %3D Calculate consumer surplus. 100 Correct response: 100 If the market price increases to 29 calculate consumer surplus. 4 Correct response: 4 What is the compensating variation assocated with a loss of access to the apple market at the initial price of 25? Assume demand remains constam What is the compensating variation associated with the increase in price from 25 to 29? Assume demand remains constant. Section Attempt 1 of 1 Verity
- a. What is the consumer surplus at a price of $7? b. What is producer surplus at a price of $7? Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.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.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
- 11. Differentiate between the consumer and producer surplus. Explain.8. If the demand equation is Q =100–10Pfind the consumer's surplus when the consumer purchases 18 units. What is the revenue of the seller?4. The supplier of Apex women's boots will make x hundred pairs of the boots available in the market daily when the unit price is 50x p = S(x)= - dollars. Find the producers' 20 – x surplus if the price is set at p = $40/ pair .
- DATE 4.1 The demand equation por a product is : 0.01g* - 19 t 100 t 83 and the supply equation is: P 0.049? t is al Determine consumers surplus under marret equilibirium b.) Graph the equilibirium using www.desmos.com of your own graph c.) C-) Give an explanation based on answer a b.- E P3 P2 P1 A Q1 Q Q2 Q3 Q, Q5 Qs Refer to Figure 4.2. The demand curve A has a price elasticity the smallest price change will cause consumcrs to change their consumption by a large amount. O the smallest price incrcase will cause consumers to switch to the producer with the lowest prices. O consumers can purchase any quantity they want regardless of the price. O there is no change in quantity demanded as the pricc changes.Question 4 Give the value for the consumer surplus in this market. Round to the penny. P 75 45.4 1 Typed numeric answer will be automatically saved. 296 S R