When a market is in equilibrium, the total amount of consumer surplus must be--------- the total amount of producer surplus. 1)equal to 2)larger than 3)less than  4)none of these

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.

1. Suppose the market demand is described as P = 15 - Qd: , while the market supply function is: P = 3 + Qs/11. Suppose the current market is at equilibrium. What is the producer surplus? (Hint: You need to calculate market equilibrium price and equilibrium quantity.) 11 8 6. 5.5 What is the total surplus? 44 60.5 66 72.5

To halt the continued rise in the price of gasoline, the government implements a price ceiling, where the price of gas is not allowed to rise above $3 a gallon. If the price ceiling was not in place, the price of gas would equal $3.75 a gallon. The price ceiling has what effect on the sum of producer and consumer surplus in the market:

Consider the market for commercial fans. The following graph shows the demand and supply for commercial fans before the government imposes any taxes.   First, use the black point (plus symbol) to indicate the equilibrium price and quantity of commercial fans in the absence of a tax. Then use the green point (triangle symbol) to shade the area representing total consumer surplus (CS) at the equilibrium price. Next, use the purple point (diamond symbol) to shade the area representing total producer surplus (PS) at the equilibrium price. Suppose the government imposes an excise tax on commercial fans. The black line on the following graph shows the tax wedge created by a tax of $50 per fan.   First, use the tan quadrilateral (dash symbols) to shade the area representing tax revenue. Next, use the green point (triangle symbol) to shade the area representing total consumer surplus after the tax. Then, use the purple point (diamond symbol) to shade the area representing total producer…

Consider the market for mountain bikes. The following graph shows the demand and supply for mountain bikes before the government imposes any taxes. First, use the black point (plus symbol) to indicate the equilibrium price and quantity of mountain bikes in the absence of a tax. Then use the green point (triangle symbol) to shade the area representing total consumer surplus (CS) at the equilibrium price. Next, use the purple point (diamond symbol) to shade the area representing total producer surplus (PS) at the equilibrium price.   (screen shot 1)   Suppose the government imposes an excise tax on mountain bikes. The black line on the following graph shows the tax wedge created by a tax of $80 per bike. First, use the tan quadrilateral (dash symbols) to shade the area representing tax revenue. Next, use the green point (triangle symbol) to shade the area representing total consumer surplus after the tax. Then, use the purple point (diamond symbol) to shade the area…

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Ryan would be willing to pay $1 for a lollipop. Sarah would be willing to pay $0.50. The price of the lollipop is $0.75. What is Ryan and Sarah's combined consumer surplus? a. $0 b. $0.25 c. $0.50 d. $0.75 Can someone please explain to me why the correct answer here is $0.25? I did the calculations and i keep getting $0 the follwing is my calculations

Refer to the figure below. What is the consumer surplus generated at a price of $150 per game console?         Instructions: Use the tool provided “CS” to illustrate this area on the graph.        Consumer surplus: $ ____   What is the producer surplus generated at a price of $150 per game console?       Instructions: Use the tool provided “PS” to illustrate this area on the graph.      Producer surplus: $ ____ e. What is total economic surplus at a price of $150 per game console?      Economic surplus: $ _____ f. What is the economic surplus generated if the market were in equilibrium?      Instructions: Use the tool provided “ESeq” to illustrate this area on the graph.      Economic surplus in equilibrium: $ ______

The price of green grapes increases from $1.90 to $2.30 per pound. When this happens, the amount of grapes sold drops from 500 pounds to 400 pounds. Assuming that the demand and supply of grapes held steady, what is the value of the loss of consumer surplus that occurred? $160 $40 $180 $200