Figure: Producer Surplus P $3 2 1 $5 $10 10 What is the change in producer surplus if the price rises from $2 to $3 per unit? $15 $20 20 Supply

Calculate the producers' surplus for the supply equation at the indicated unit price p. (Round your answer to the nearest cent.) p = 90 + q; p = 225 $ Note: Hand written not allowed

Retail Demand: Q = 16 - Pr Farm Supply: Q = 2 + .5Pf Marketing cost per unit: $5 Draw a graph of the market showing all relevant curves and functions on graph paper. 3. What is the equilibrium quantity? What is the farm price at this quantity? What is the retail price at this quantity? 4. What is the retail elasticity of demand at the market equilibrium? 5. What is the farm-level elasticity of demand at the market equilibrium?

Select the area(s) that represent CONSUMER SURPLUS before the price floor is imposed? (select all that apply)

Instructions: Enter your answers as whole numbers. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.     Thousands of Bushels Demanded Price per Bushel Thousands of Bushels Supplied Surplus (+) or Shortage (-) 88 $3.40 65   81 3.70 71   75 4.00 75   70 4.30 78   66 4.60 80   63 4.90 81   a. What is the equilibrium price in this market?          At what price is there neither a shortage nor a surplus?   b. Graph the demand for wheat and the supply of wheat. Be sure to locate the equilibrium price and quantity.   Instructions: Enter all numeric values without a minus sign.   c. How big is the surplus or shortage at $3.40?   There is a of        How big is the surplus or shortage at $4.90?  There is a of     d. How big a surplus or shortage results if the price is 60 cents higher than the equilibrium price?         e. How big a surplus or shortage results if the price is 30 cents lower than the…

2. P Price ($) $ 120 $100 $80 $60 Let (inverse) demand be Pb = 108 - 7 Qb and (inverse) supply be Pv = 18 + 3 Qv. What quantity will be exchanged in the market if it is competitive? Answer: your answer Submit $40 $20 0 $0 0 5 2 4 Demand 10 6 Quantity Supply 15 8 Quantity 10 Eqm 20 12 14 25 16

Comsumer Surplus Study The goal of this assignment is to apply Calculus to analyze consumer and producer surplus. This activity is based off the economical principles discussed in Section 3.1 of "Principle of Economics" and Section 7 of Chapter 3 in the Business Calculus book. The table below shows how supply and demand of gasoliine vary depending on the price: Price ($/gal) Demand (million of gal.) Supply (million of gal.) 753 513 550 1.2 700 1.4 640 600 1.6 580 639 1.8 543 660 2.2 450 680 2.4 430 700 2.6 420 720 2.8 390 735 3. 367 763 Note: there is some randomization in the above data to account for price fluctuations. Make sure to check that you input the correct data in your device. Perform the following work • Assume that Supply has a quadratic relationship with the price. Find this relationship (the help buttons contain an article to compute trend-lines in Excel): S(p) = Round your answer to 3 decimal places %3D • Assume that the Demand has a quadratic relationship with the…

Hello!Could you please help me in solving this question

General Electric (GE) produces wind turbines that generate wind power. Over the past 10 years, the advances in technology used to produce wind turbines has resulted in O GE increasing the quantity supplied of wind turbines. a decrease in the supply of wind-generated power. a rightward shift in the supply curve for wind-generated power. a movement up along the supply curve for wind-generated power.