What is the total surplus : Price 110 - Supply 100 a) 800 b) 1000 c) 1500 d) 2000 e) 2500 f) 3500 g) 5000 90 80 70 60- Demand 50 45 40 + 30 20 10 ++++++ 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Duantity

9. When the demand curve shifts, the change in equilibrium price will be larger the moreelastic the supply curve.(a) True(b) False

A B|C|DE| F GH $40 $35 $30 $25 $20 $15 $10 $5 $0 0 5 10 15 20 25 30 35 40 40 175 300 375 400 375 300 175 0 (b) Calculate the price elasticity of demand between each set of points on the demand curve (i.e., between A and B, B and C, C and D, D and E, etc.) Point on Demand Curve: Price (P): Quantity Demanded (Qo): TR=PXQ I

The market for burritos in a college town is shown to the right. At a price of $7, how much excess demand is there? A. 0; there is excess supply at $7. B. 20 units C. 30 units D. 10 units C… Price 16- 14- 12- 10- 8- 6- 4- 2- 0 0 20 40 60 80 Quantity 100 S D 120 140 160

Please let me know seftuon A) if the input price would rise or fall

13. The table below gives part of the supply schedule for personal computers in the United States. Price Quantity Supplied before tech change Quantity Supplied after tech $1,100 $900 12,000 8,000 change 13,000 9,000 a) Calculate the price elasticity of supply when price rises from $900 to $1,100 using the arc elasticity formula (the midpoint method). b) Now suppose that technology changes such that at every price, 1000 more computers are supplied. Now, as prices rise from $900 to $1,100, is the elasticity of supply smaller than, larger than, or equal to the elasticity in part a)? c) Does the change in b) change the slope of the supply curve? Are slope and elasticity the same thing? Explain.

SOME S&D PROBLEMS 1. A. Find Pe and Qe Price per unit (dollar 8 8 2 2 2 2 2 2 2 2 100 90 80 70 60 50 40 30 20 10 0 200 400 600 Quantity B. What is the effect of a ceiling price of $40? 800 Do 1,000

Please help

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The table below shows the total demand and supply for bushels of wheat per month. Demand Price per bushel ($) Supply (*000) (*000) 85 3.40 72 80 3.70 73 75 4.00 75 70 4.30 77 65 4.60 79 60 4.90 81 Required: (i) Explain what is the situation that arises when the product price is $3.40 and $4.90?