The rent on an apartment in a particular building near campus is $1,200 per month. If Min would be willing to pay up to $1,400, Genevieve would be willing to pay up to $1,500, Fraser would be willing to pay up to $1,600, and Kayden would pay no more than $1,000, what is the consumer surplus for this group of students who would like to live in the building? Explain how you calculated this consumer surplus

Please solve the second image. *First image is for information only.

QUESTION 4 Rachael has bought a rare stamp collection from a philatelic exhibition (an event where people display and sell rare stamps). She can now either sell the stamp collection over the internet for $592 or keep the stamp collection for her own enjoyment. Rachael expects that keeping the stamp collection will provide $762 of enjoyment but will require $187 in new albums so that the stamps can be stored and presented safely. What is the economic surplus (or loss) of Rachael selling the stamp collection? Answer to the nearest whole number (with no decimal places or $ sign. If a loss, include a minus sign).

If the current market price is $8, average income is $40,000 and the demand curve is Qd = 120-4P +.001, how to you find the market's total demand curve and market's consumer surplus?

Last Saturday, Sammy supplied 100 baskets of strawberries at the farmer’s market when the equilibrium price was $3.  This Saturday, he supplied 120 baskets of strawberries when the equilibrium price increased to $4.  Sammy’s producer surplus did not change;  it was the same this Saturday as it was last Saturday. Select one: True False

As you can see from the article in the prior problem, "Rents Hit All-Time Highs amid Job Growth and Low Vacancy Rates," some people move out as a result of rent increases, while others are ready to pay an even higher rent. Rent control adds yet another aspect by setting a ceiling on what the rental price can ultimately rise to. The supply and demand model can be used to illustrate the mechanism that leads to all these different market outcomes. Consider the market for rental properties in Los Angeles and Orange counties in Southern California. Suppose that while average earnings increased by about 10% in Los Angeles and Orange counties, the average rent has increased by 20%. (Assume for a moment that there are no rent control regulations.) Adjust the following graph to illustrate the rent increase by either using the black point (cross symbol) or by shifting the supply and demand curves. The Market for Rental Properties in Los Angeles and Orange Counties 4000 3600 Supply Demand 3200…

D(x) is the​ price, in dollars per​ unit, that consumers are willing to pay for x units of an​ item, and​ S(x) is the​ price, in dollars per​ unit, that producers are willing to accept for x units. Find ​(a​) the equilibrium​ point, ​(b​) the consumer surplus at the equilibrium​ point, and ​(c​) the producer surplus at the equilibrium point.   ​D(x)=(x−9)^2​, ​S(x)=x^2+6x+57

When are government intervention or government regulations beneficial to consumers?         when they impose regulations on businesses that limit profits         when they limit consumer choices by regulating goods sold by private firms         when they limit the number of businesses permitted to open and sell goods to consumers         when they impose safety regulations that determine how bicycle helmets are manufactured

Which of the following would lead to the creation of some consumer surplus? Sam refuses to pay $10 for a haircut because it is only worth $8 to him. Fred buys a car for $4000, the maximum amount that he is willing to pay. Danette pays $30 a month for phone service, but it is worth $70 a month to her. When Florence purchases a candy bar for 50 cents, she uses a $20 bill to pay for it.

Anderson is willing to pay $12. Kendrick can provide the item for $10, but producing the item imposes a cost of $8 on Talib. If Anderson purchases the item from Kendrick for $11, what is the total surplus from the transaction? (Remember, do not enter the $, and enter the - if TS is negative.)