The supply and demand curves of a product are shown in Figure 6.13. Approximate the difference in the total gains from trade if the price is artificially increased from the equilibrium price of p = 95 to p*= 110. p(Sunit) 200 888888888 180 160 140 120 100 50 O(a) $137.50 Ⓒ (b) $3,250 O (c) $4,675 100 150 200 Figure 6.13 (quantity)

The US demand curve for transporting freight by truck is а° - 580B - 60в "Р, where B denotes billion. Here, P is the price to transport a standard shipping container one mile, and quantity Q is the number of shipping-container-miles transported in a year. The marginal cost of transport is $1/mile (i.e., fuel and driver costs). Each truck can drive up to a maximum of 100,000 miles/year. Assume each truck carries one shipping container. The annual fixed cost of operating a truck is $200,000. Consequently, the average cost of a truck that drives q miles a year is ($200,000/q) +$1. All trucks have the same costs. There are no barriers to setting up a new trucking firm and/or acquiring additional trucks, and there are large numbers of people capable of running a trucking firm. Part (a) Sketch average and marginal costs for a truck, as a function of miles driven. Part (b) (i) (ii) (ii) (iv) (v) What is the price-per-mile of transporting freight by truck? How many miles does the combined US…

Price per Constant- Quality Unit $1.00 2.00 3.00 4.00 5.00 Quantity Demanded of Constant-Quality Units per Year 1,000 800 600 400 200 According to the above table, at a price of $1 per unit, which of the following would exist? A) a surplus of 200 units Quantity Supplied of Constant-Quality Units per Year 200 400 600 800 1,000 OB) a shortage of 200 units OC C) a shortage of 800 units ⒸD) a surplus of 800 units

Consider the market for good x for which there is one firm controlling the market.D(q)=165-10qMC(q)=5q+15MR(q)=165-20qC(q)=2.5q^2+15q+8 (a) Find the point of equilibrium. (b) How many units must the firm produce and sell to maximize its profits? (c) What will be the price the firm will charge to consumers?

Price(per bottle) Quantity supplied Normal timesquantity demanded Hurricanequantity demanded $6 100 25 75 $5 85 35 85 $4 70 45 95 $3 55 55 105 $2 40 65 115 $1 25 75 125 Concerned with citizen complaints of price gouging during past hurricanes, Florida's state government passes a law setting a price ceiling for a bottle of water equal to the market equilibrium price during normal times. After all, it seems unfair that sellers of water gain because of a hurricane. During a hurricane, there would be a shortage of     bottles of water.      Without the antiprice gouging law, consumers would have to pay   $   more than the ceiling price, but they would be able to buy     more bottles of water.

Assuming a $9 per unit subsidy is implemented, the new price to the buyers will be $______.     a) 12     b) 14     c) 16     d) 19     e) 21     f) 22.5     g) 45     h 66     i) 82.5     j) 148.5     k) 171

Price Quantity Supplied Quantity Demanded $10 100 295 11 150 275 12 190 250 13 220 220 14 245 .180 15 265 135 If a technological advance lowers production costs such that the quantity supplied increases by 60 units of this product at each price, the new equilibrium price would be O A) $13. B) $12. C) $11. D) $14.

help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working

Price ($/unit) 150 120 70 40 10 100 $2,500 $1,500 $4,000 $1,000 200 300 Supply Demand Quantity (thousands) Referring to the above figure, and as a result of the price increasing from $70 to $120, total deadweight loss to consumers and producers would be:

Q6 The demand and supply functions for two interdependent commodities are given by: Qp, = 120 – 2P, + P;; Qs, = -7 + 7P, Qp, = 168 + 3P, – 7P;; Qs, = -3 + 20P, %3D (a) Explain whether these goods are complementary or substitutable. (b) Determine the equilibrium price and quantity. (c) The government decides to provide a subsidy of $4 on each unit of good 1 only. What effect does this subsidy have on the equilibrium prices of each good?