Consider the perfectly competitive market for gasoline. The aggregate demand forgasoline is D (p) = 100 - p. Given the choke price is 100, if the equilibrium price is P25 and the equilibrium quantity is 75 units, what is the consumer surplus?

Q: The demand function of the company that make hard disk is given by P = D(Q) = 78 – 4Q where P is the…

A: P=78-4Q ‐------- demand equation P = 13 +Q --------- supply equation --------- At equilibrium,…

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A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: the inverse demand function for mangos is p=6-0.5q, where q is the number of crates that are sold.…

A: inverse demand function p = 6 - 0.5qinverse supply function p = q

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Q: Market demand for concerts is given as Q = 2500 - 20P Market supply for concerts is given as Q =…

A: a) Consumer surplus = $90250 b) Producer surplus = $22562.5 c) Market surplus = $112812.5

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A: We are going to find the consumer surplus to answer this question.

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A: Price floor is lower limit on the price. Price floor is usually set above the equilibrium price.

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A: Equilibrium is achieved at the output level where quantity demanded by consumer equals quantity…

Q: In this problem, p is in dollars and x is the number of units. The demand function for a certain…

A: The producer’s surplus is the surplus that the producer gains after manufacturing and selling the…

Q: consumer's surplus

A: Consumer surplus depicts the area of willingness to pay minus price paid for the commodity. It helps…

Q: PROBLEM 11:   Demand and supply for a good are given as Qd = 100 - 2P and Qs = -8 + P, respectively…

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A: Consumer surplus measures the difference between the highest price that a consumer is willing to pay…

Q: Calculate the value of equilibrium price and equilibrium quantity of the commodity Z. When,the…

A: Demand: Demand for a commodity can be defined as the desire and willingness of a consumer to acquire…

Q: Attached Question:

A: Given Information: Demand function Qd = 252-4P Supply function Qs = 172 To find out the consumer…

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A: Given:Demand function, P(q) = 800.1q+0.22Equilibrium quantity, q = 18

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Q: Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demands for these two…

A: We are going to execute two-variable maximisation process to answer this question.

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A: We have demand function, D(x) =p = 156-x^2 We have supply function, S(x) = p= 60 + (1/2) x^2 At…

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A: We know when supply and demand match then only equilibrium occurs. Equilibrium price is the price…

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Q: Consumers' Surplus The demand function for a certain make of replacement cartridges for a water…

A: Answer: Given, Demand function: p=-0.01x2-0.2x+26 Market price = $2 per cartridge The formula for…

Q: Refer to Exhibit 6.8, which shows the market equilibrium for opera tickets. The demand curve for…

A: Consumer surplus is the surplus which is earned by the consumer due to the difference in their…

Q: Which of the following statements are true? (i) When demand is price elastic, total revenue moves in…

A: (i) When demand is price elastic, total revenue moves in the opposite direction of the price change.…

Q: Suppose a firm's supply curve in a competitive market is S = 25 + 5p, where S is the supplied…

A: Here, supply function is given as: S=25+5p, where 5 is the slope of the supply curve The price…

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A: The equilibrium quantity in the market can be calculated by substituting the value of P in the…

Q: The market for Mandrake root in Sodden is perfectly competitive. Market demand is given by Q=294-3P…

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Q: Consumers' Surplus The demand function for a certain brand of CD is given by p = -0.01x2 - 0.1x + 19…

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Q: Given that the demand function P = 15 - 0.25Q and the supply function P = 0.2Q + 6. Determine: a.…

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A: Demand function: It refers to the function which helps in determining the quantity demanded by the…

Q: The demand for goods of an industry is given by the equation PQ = 100, where p stands for %3D price…

A:

Q: A desk lamp factory is willing to supply z items for a price, in dollars, of p(x) = 2x + 61, while…

A: Given  Supply curve : p(x) = 2x+61 and demand curve: p(x) = -3x+116

Q: Suppose that in a perfectly competitive market, the demand for Frisbees is given by Q=200-2P and the…

A: Deadweight loss refers to the loss to a society which occurs due to an inefficient quantity…

Q: here Q is output and P is the price in dollars. Demand: P = 100 – QD

A: The law of demand states that – when other factors remain constant (cetris peribus), price(P) and…

Q: The market for N-95 masks is perfectly competitive. Market Demand is given by Q=310-2P and Market…

A: (Market Demand:Q=310-2PMarket Supply:Q=2PPrice ceiling=$44Now,Equilibrium price is achieved…

Q: (The demand and supply functions for a product are given in dollars, with q representing quantity,…

A: The market is in equilibrium when demand is equal to the supply.  The demand curve is quadratic…

Q: The equilibrium quantity and price is 5 units and $49 dollars respectively. Demand function is p =…

A: Given Equilibrium quantity (Qe) = 5 units Equilibrium price(Pe) = $49

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Q: The supply curve for product X is given by Qx= -340 + 10PX. a. Find the inverse supply curve. P = b.…

A: The supply curve, economic, graphic representation of the relationship between a seller's product…

Q: Find the producers' surplus at a price level of p= $70 for the price-supply equation below. p= S(x)…

A: We are going to integrate the area above the Supply curve, S(x) and below the Price provided in the…

Q: Producer surplus is the difference between the price the firm would be willing to sell its food for…

A: The statement is true.

Q: Given: (X is humber of items) Demand function: d(x) = 264.6 – 0.2x² Supply function: s(x) = 0.4x² -…

A: Equilibrium P(price) and x(quantity) is where the demand and supply for the product equals. The…