Price Question 23 50 80 33- 17- 85 170 160 85 80 D 10 20 30 Quantity Please refer to the graph above. Assume this market is in equilibrium. What is total social surplus? $660 $335 O $325 O $850
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- Price ($) 15 14 13 12 11 10 9 S 8 D 7654321 0 10 20 30 40 50 60 70 80 90 Quantity Assume the market depicted in the graph is in equilibrium. What is total surplus?What is Consumer Surplus at a price of $5? Price Quantity Demanded Quantity Supplied 12 1 6 10 2 5 8 3 4 6 4 3 4 5 2 2 6 1 Multiple Choice $4 $20 $16p ($/unit) 200k 160 120 80 40 5000 Equilibrium price =$ Equilibrium quantity a) What are the equilibrium price and quantity for the supply and demand curves in the figure above? = S (quantity) Consumer surplus =$ i 10000 b) Estimate the consumer and producer surplus. Producer surplus =$ i Round your answers to the nearest thousand. SUPPORT
- For the demand curve shown, find the total amount of consumer surplus that results in the gasoline market if gasoline sells for $2 per gallon. Price ($/gallon) 12 11 10 9 8 7 6 5 4 327 1 0 Demand for gasoline 100 10 20 30 40 50 - %% Quantity (1,000s of gallons/year) 110 >120 Instructions: Enter your response as a whole number. Consumer surplus: $ per year.Use the graph to calculate consumer surplus when the market is at equilibrium. Price $400 30 15 10 100 150 200 300 Quantity A $3,000 В $5,000 $2,000 $4,000 20What is the value of consumer surplus? What is the value of producer surplus?
- In a market which demand and supply curves are shown below: Price ($/hour) 36- 32 28- 24 20- 16 12- 8- 4- 0 Demand Supply 1000 2000 3000 4000 5000 6000 7000 Quantity (units/day) a) Calculate the consumer surplus for the market. (If necessary round your answer to the nearest whole number.) Consumer Surplus = $0 b) Calculate the producer surplus for the market. (If necessary round your answer to the nearest whole number.) Producer Surplus = $0Use the graph below for the next three questions. -60 -40 A -20 20 40 60 What is the consumer surplus if the price is given by point A? Answer: 625History Bookmarks Profiles ●●● STUDY NOTES Tab Window Help Ü 0 Aa & O December 5, 2022 at 7:04 AM Find t nd the consumers' surplus and the producers' surplus at the equilibrium level for the given price-demand and price-supply equations. Include a graph that identifies the consumers surplus and the producers' surplus. Round all values to the nearest integer p=D(x) 40.4-0.06x; p= S(x)=14+0.05x The value of x at equilibrium is. The value of p at equilibrium is $. The consumers' surplus at equilibrium is $ » Q The producers' surplus at equilibrium is $. 2048 tv A Ojason
- Based on the figure below, consumer surplus is $0 when price is greater than or equal to $ Price ($) 16 543210 15 14 13 12 11 10 9 4N31SRL86 5 2 0 S Quantity D 10 20 30 40 50 60 70 80 90 100KE Consider the market for some product X that is represented in the accompanying demand-and-supply diagram a. Calculate the total economic surplus in this market at the free-market equilibrium price and quantity The total economic surplus is $ per day (Round your response to the nearest cent as needed) 57.00 $5.00 45.00 30 00 3300 27.00 21.00 15.00 900 300- 10 25 15 20 Quantity (units per day) 30© Macmillan Learning b. How much does this new technology increase consumer surplus? Increase in consumer surplus: $ 1050 Increase in producer surplus: $ Incorrect c. How much does this new technology increase producer surplus? 1050 Incorrect d. How much does this new technology increase total (or social) surplus?