Statement Assuming each seller receives a positive surplus, Manuel will always receive less producer surplus than Poornima. Producer surplus is smaller when the price is $105 than when it is $75. In order for Caroline to earn a producer surplus of exactly $45 from selling a used scooter, the market price must be True False O

The standard measure of consumer surplus is a fair measure of the value of a good to consumers because it gives an equal weight to each individual consumer.” Is this statement true, false, or uncertain?

Determine whether there is a specific market price above which demand is zero or price per unit is unbounded. Write the maximum possible market price, using dollars per unit as the units of measure for input. (If the price per unit is unbounded, enter UNBOUNDED.) D(p) = 3.6p-0 -0.3 p = units dollars per unit

Next, consider an example of DWL in the labour market. Suppose the demand for labour is given by the fixed gross wage W = $16. The supply is given by W = 0.8L. (a) Illustrate the market geometrically. (b) Calculate the equilibrium amount of labour supplied, and the supplier surplus. (c) Suppose a wage tax that reduces the wage to W = $12 is imposed. By how much is the supplier’s surplus reduced at the new equilibrium?

Consider a market where demand and supply satisfy the following equationsQd = 12 – 2 P,QS = 2P.a)Find the current equilibrium price and quantity. b)What is the total producer surplus if the market is in equilibrium? The government is considering a minimum price policy to increase producer surplus.c)Explain by means of graphs how the introduction of a price floor can increase producer surplus. d)Find the (optimal) price floor that maximizes producer surplus.   hi, can you answer part c and part d for this question please, thanks

You are a math tutor, and you offer in-home tutoring on weekday afternoons for $20 an hour. On Saturdays, you tutor students hourly for free at the community center. Since you follow the Rational Rule for Consumers, which statement can you conclude is TRUE? Your economic surplus rises or at least remains unchanged when you tutor at the community center. You couldn't gain any economic surplus from tutoring at the community center since you earn $0 per hour. You can't compare the two types of tutoring because you can't quantify how much donating your time means to you. O The time you spend tutoring the students on weekday afternoons lowers your economic surplus.