In a competitive market in which P = 100 − 2Q is the inverse demand for fuel and P = 10 + Q is the inverse supply of fuel. Calculations are preferred, but you may use a graph for partial Without a tax, what is the market-clearing price and output, P and Q? What is the consumer surplus and producer surplus (with no tax) If a tax on fuel is set at $15, how much fuel will be purchased? You can assume that the buyers pay the tax (but it doesn’t matter). What is the deadweight loss of the tax?

A market for a certain type of golf clubs has the following supply and demand: QD where p denotes the unit price. 25p —D 4,500 - 20р, (a) Find the number of golf clubs produced and the equilibrium price. What is the consumer and producer surplus? (b) Suppose that a unit tax of nine dollars is levied on the producers of golf clubs. Find the number of golf clubs sold. What is the consumer and producer surplus in this case? ce wa се (c) How is the tax burden shared? cro.com

Demand for apartments in a certain town is D(x)=1480−3x​,and the supply is S(x)=500+11x​, where x is the number of​ apartments, in​ hundreds, and​ D(x) and​ S(x) are the rent in dollars per​ month, per apartment.  a.)Find the consumer surplus and producer surplus ​b) Suppose a maximum rent of ​$1050per month is imposed by the town council. Find the point xC, pC ​c) Find the new consumer surplus and new producer surplus ​d) Find the deadweight loss

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Assume that a price floor of $320 has been implemented and there are no wasteful quality improvements. What are the total gains from trade (total surplus) with a price floor of $320? Hint: enter your answer as a number only with no $ sign Example: if the answer is $10,000, enter 10,000 2,400

In Figure 1, suppose the marginal value for gasoline falls by $6 for every quantity demanded for all gas stations in the market. Next, assume that the government enacts a price ceiling of $2. What is the loss in consumer surplus? A) $6B) $2C) $12D) There is no consumer welfare loss because prices are lower.E) There is not enough information to calculate.

Suppose the equations below represent the market supply and demand for cellular service. QD = 50 – 0.25P QS = 2P – 76 a.  Graph the supply and demand curves, and label the equilibrium quantity and price.    b.  Calculate the amount of Consumer Surplus and Producer Surplus in this market.  c. Suppose the government enacts a per-unit tax of $9 for each unit sold. Illustrate the effect of this tax in your graph of the market for cellular service, and calculate the new market price and quantity sold. d.  Calculate the amount of deadweight loss associated with this per-unit tax. e. Calculate the share of the tax burden that the sellers bear.  f. Briefly explain why there is a relationship between the slopes of the supply and demand curves, and the tax burden on each side of the market.

The price of green grapes increases from $1.90 to $2.30 per pound. When this happens, the amount of grapes sold drops from 500 pounds to 400 pounds. Assuming that the demand and supply of grapes held steady, what is the value of the loss of consumer surplus that occurred? $160 $40 $180 $200

The inverse supply function for coal is PS = 2 + QS. The inverse demand function for coal is PD = 20 - 2QD. By how much does consumer surplus increase when a $3 subsidy to consumption is introduced? (Assume that no tax was in place before the subsidy is introduced).

The supply curve for product X is given by QXS = -300 + 10PX .a. Find the inverse supply curve.P = ___ + ___ Qb. How much surplus do producers receive when Qx = 300? When Qx = 800?When QX = 300: $ ___When QX = 800: $ ___