Pu P3 P₂ P₁ Qi Q₂ Q Q4 MR MSC тре D a. What price and quantity will the firm in the diagram above produce? b. What's the socially-optimal price and quantity? C. In the absence of government intervention, will this firm produce too much or too little?

'Qs=35+8p Qd=106-2p' Find equilibrium rice and equilibrium quantity

Price (dollars per sandwich) 0 | -234 SST 0 5 6 7 Quantity supplied (sandwiches per week) 0 Quantity demanded 400 350 300 250 200 150 100 50 0 5. After the shift in demand, is this market still efficient? Why or why not? 50 100 150 200 250 300 350 400

) What happened to supply curve and equilibrium price and quantity when Government provides subsidy to corn grower. Show graphically and explain by using 4 -steps Process.

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pe diagram below shows the market for some agricultural product, X. 6.00 5.00 4.00 3.00 2.00 1.00 300 600 900 1200 1500 1800 Quantity of X (units per week) IGURE 5-8 Refer to Figure 5-8. Assume the market for product X is at its free-market equilibrium. What is the weekly amount of producer surplus in this market? $1800 $2700 $1350 $900 $450

Q20 In Canada we have government intervention in the dairy market in the form of quotas on milk production. What are two predicted economic effects of this policy? a. A redistribution of income from dairy farmers to consumers of dairy products and an increase in the total amount of economic surplus in the dairy market. b. An equitable distribution of income between dairy farmers and consumers of dairy products and a reduction in the total amount of economic surplus in the dairy market. c. A redistribution of income from consumers of dairy products to dairy farmers and a reduction in deadweight loss in the dairy market. d. A redistribution of income from dairy farmers to consumers of dairy products and a reduction in the total amount of economic surplus in the dairy market. e. A redistribution of income from consumers of dairy products to dairy farmers and a reduction in the total amount of economic surplus in the dairy market. Clear my choice

Marginal cost and marginal benefit (dollars per pound) 5 3 2 - MC M8 100 200 300 400 500 600 Quantity (pounds of coffee perday) The above figure shows the marginal benefit and marginal cost curves of coffee in the nation of Kaffenia. Which of the following would result in the quantity of coffee in Kaffenia differing from the efficient quantity? O The existence of price control in the market. The existence of many producers and sellers of coffee. The existence of a single producer and seller of coffee. Both "The existence of a single producer and seller of coffee." and "The existence of price control in the market." are correct.

As prices rise, why will producers increase production of a product? O They are required to by law. O They are spending less money on resources. O They want to decrease the volume of sales. O They want to obtain higher profits. vc.k12.com/learnx-svc/getIndex/token/6241afc7ef9a221020a640c5_a5107a05-ec20-47e8-bf05-9a035c6efc38/conceptld/HST MAR 1 28 MacBook Ai 000 D00 FA F1 F2 F3 # 2$ % %24

Extra Problems - I - In a given market the supply curve is based on the following: producers an suppy at a price of 10 up to a quantity of 100. No more than 100 can be applied. Producers will not supply if price is below 10. The demand curve QD=A-20p. Graph the supply curve and interpret it. . Now determine A such that the market "just exists" - this the smallest value of A such that an infinitesimal amount will be sold. You can use graphs to help with this; for example, graph the demand curve for a given guess at A and see whether or not the market exists. . Determine the range of values of A for which the market "maxes out" and the maximum feasible amount is sold.