The screenshot shows a graph market for movies at equilibrium: A) Calculate Consumer, producer, and total surplus. b) Suppose in response to public outcry the government imposed a price ceiling of $8 in this market. Explain the impact on the total surplus and market efficiency.

Neha buys an iPhone for $240 and gets a consumer surplus of $160. Her willingness to pay for an iPhone is   .   If she had bought the iPhone on sale for $180, her consumer surplus would have been   .   If the price of the iPhone had been $500, her consumer surplus would have been

1. The demand and supply of apartments in Vancouver are given by (Demand) P = 1200 – 2Q and (Supply) P = 2Q. (a) Find the equilibrium price P * and quantity Q* . Compute the consumer surplus and producer surplus.

1. Consider the market for cell phones in Celltown. Suppose that the inverse demand curve is P = -2Qd + 300 and that the inverse supply curve is P = 3Qs + 50. a. Sketch the inverse supply and inverse demand curves. b. Calculate the equilibrium price and quantity. c. Compute consumer surplus (CS), producer surplus (PS), and total surplus. d. Suppose the Mayor of Celltown institutes a price floor of P = $250 in order to promote the new technology. It is illegal to sell cell phones at a price below P. What is the quantity transacted in the market with the price floor? e. Compute the change in CS and the change in PS. f. Compute the change in total surplus. If you were an economic advisor to the Mayor whose goal is to maximize the total surplus of the city, would you advise continuing the policy or not? Explain. g. A representative of the Association of Cell Phone Manufacturers arrives at the Mayor's office to lobby against eliminating the price floor. i. Explain why economic theory…

You’d be willing to pay $200 for a daylong admission ticket to a theme park. The cost of the ticket is $120. Your consumer surplus is:

Suppose Atlanta imposes a rent control program that fixes rents at $300 below the equilibrium rent. With this plan   Question 1 options:   the deadweight loss in Atlanta's apartment market will be eliminated.   the quantity of apartments demanded will increase.   the quantity of apartments supplied will increase.   young people and poor people will have an easier time finding apartments.   there will be a surplus of apartments offered for rent.