Consider the following market demand and supply: Demand: P = 13 - 5Qd Supply: P = 6 + 2Qs If the market is at equilibrium, what is the total economic surplus? Note: Express your answer in units of dollars, to at least two digits after the decimal.

09. Given a price ceiling set at $8, what would be the quantity traded in this market?     a) 4     b) 5     c) 7     d) 8     e) 9     f) 12     g) 13     h) 16     i) 17 10. Given a price floor set at $16, what would be the quantity traded in this market?     a) 4     b) 5     c) 7     d) 8     e) 9     f) 12     g) 13     h) 16     i) 17 12. Which of the following statements are true?     a) Economists call the farm price support system "welfare for the rich"     b) There is a fixed amount of jobs in the economy.     c) Price ceilings and price floors cause economic inefficiency and corruption.     d) General price controls is considered by economsts among the most stupid policies.     e) Only Democrats support price control policies.

4- For each of the following changes, determine whether there will be a change in quantity supplied or a change in supply. a) a change in the resource cost b) a change in producer expectations c) a change in price

Assume supply of a rice: QS = 1800 + 240P, 1981 Demand for rice: QD = 3550 - 266P.What is the market clearing price? Assume now that government wants to support a priceof $3.60/kg and thus buys the additional amount from the market. Find the change inconsumer surplus, cost to the government and gain of the producer. Instead of pricesupport if government gives a supply restriction of 1500 kg what would happen?

Consider a market where demand and supply satisfy the following equations QD = 12 – 2 P,e Qs = 2P. a) Find the current equilibrium price and quantity. b) What is the total producer surplus if the market is in equilibrium? - The government is considering a minimum price policy to increase producer surplus.- c) Explain by means of graphs how the introduction of a price floor can increase producer surplus. d) Find the (optimal) price floor that maximizes producer surplus.

A1-1. Imagine that a market for a good is characterized by the following supply and demand equations: QS = –35 + 35P QD =100 – 10P where QS and QD are quantities in units and P is the price per unit. (a)  Graph the supply and demand curves with quantity on the horizontal and price on the vertical axis. Be sure to calculate the P and Q intercepts for demand and the P intercept for supply. Calculate and illustrate the equilibrium price and quantity. [Hint: Show your work.]  (b)  Calculate both the demand and supply elasticity around the equilibrium point. [Hint: you can use either the point method or the average arc (midpoint) method.]  (c)  If a regulator imposes a quantity restriction by granting quotas for 60 units of output to existing producers, what is the new price and quantity traded? Does this policy create deadweight loss (DWL) in the market? Briefly explain and identify any DWL in your diagram.  (d)  What is the value of a unit of quota? Illustrate in your diagram.…

Q4: Consider the market (supply and demand) for Wheat.Qd = 100 - 0.6P…………1Qs = -30 + 2P……...…...2a. Find the market equilibrium price and quantity?b. Find the market equilibrium price and quantity After imposing an ad valorem tax on production by 5% of good price.c. Find the market equilibrium price and quantity if producers receive a production subsidy of 10 SR per unit produced.

Annual demand and supply for a Company is given by: QD = 19500 – 100P , and Qs=-5000 + 100P %3D 1.Find the equilibrium price and quantity?  2. If price are $100, 110, 130, 180 calculate the value of surplus or shortage in supply at each given price level

Please answer this specificly so o can understand how to do it. Thank you!

Urgent Q4 I dont know why i got them wrong