Which statement regarding market 2 is true? Deadweight loss due to the tax is area C. After the tax, consumer surplus is area A. Tax revenue equals area B+ D + C+E Before the tax, producer surplus is area F
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- Think back to a purchase that you made recently. How would you describe your thinking before you made that purchase?In the graph, what is the sum of conSUmer and producer sumpla 18 140 12- 2- 10 15 20 Quartity O $30 O $140 O $50 O SO Price 10The graph below shows the market for pineapples. Pnew (dolbera par pound) $4.00 $9.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 Market for Pingupplas 4150 62.00 10 52 50 200 Preu (dekura per pod) 81 56 unst 20 Instructionat Enter your answera sa a whole number a. Whes are the initial equilibrium griez ond quantity in the pineapple markust? P-S per pound $1.00 Now auppaac an increac in tropical cuisine made with pincopplea ahoa the demand curve for pincapcle aa ahawn in the groch below. 0 3.0 3 Quently (lon) 40 tana of gincapples 10 Market for Pineapples 20 30 0 A( 8.0 Quesilly (D D 60 b. Which of the lalamno aries and guomity combines ons baat daBorbos the new boudarnos in use market for ginooppica? D-2250 par pound and O-35 Un D-3225 ger Cound and 0-22 len P-3200 par pound and 0-20 tani 10-12.00 par pound ond 0-22 lon
- Think about a competitive market in which youparticipate regularly. For each of the characteristicsof a competitive market, explain how your marketmeets these requirements.“If you have something that you don’t want anyone to know, maybeyou shouldn’t be doing it in the first place”. EXPLAIN THIS SENTECEAssume that you are in the business of building houses in United Kingdom. You have analyzedthe market carefully, and you know that at a price of £120,000, you will sell 800 houses peryear. In addition, you know that at any price above £120,000, no one will buy your housesbecause the government provides equal-quality houses to anyone who wants one at £120,000.You also know that for every £20,000 you lower your price, you will be able to sell an additional200 units. For example, at a price of £100,000, you can sell 1,000 houses; at a price of £80,000,you can sell 1,200 houses; and so on.a. Sketch the demand curve that your firm faces.b. Sketch the effective marginal revenue curve that your firm faces.c. If the marginal cost of building a house is £100,000, how many will you build and whatprice will you charge? What if MC = £85,000?
- The figurm to the nght shws he maket for pran The matet lyin m t pe of P, ndeuy ot a, Now epse produoes decide t t Q, hoder he pree t Al be pree P, cormen are wiling to buy the a, pends of greree thi n econenily efent ty OA Ye, beraune be price P, hown what conumen wng te pey the pdut D. No the mergnal cost of he lest un (0ad the margl beneof the ltunt OC. Ves ofherwise consumere wod ty 0, uns ferw OD M the margnel benette lt n 0jecend the merg cot of lt u Seyf Nuxtof ion Figure 4-3 Consumer 1 ↑price 20 18 16 14 12 10 8 A 6 4 2 D 10 12 14 16 quantity Select one: Qa, 25 units. Ob. 0 units. OC 8.33 units. O d. 5 units. REDMI NOTE 8 AI QUAD CAMERA Consumer 2 I price 30 27 24 21 L 18 15 12 9 6 D 3 5 10 15 20 25 30 35 40 quantity Refer to Figure 4-3. If these are the only two consumers in the market, then the market quantity demanded at a price of $10 is Time left 1:50:45Suppose you are chatting to a friend in Brazil on the Internet. Your friend tells weather is forecast to be really cold in the next few weeks and the frost that's expected will damage the coffee crop. Your friend says, "If there are going to be fewer coffee beans available, rll bet that coffee bean prices will rise. We should buy enomous quantities of coffee beans now and put them in storage. Later we will sell them and make a huge profit." you that the 4. Can you "beat the market" with public information? That is, can you use publicly available information to help you buy something cheap and quickly sell it at a higher price? Why or why not? In order to reduce smoking, the government places an additional tax of €2 on a pack of twenty cigarettes. After one month, while the price to the consumer has increased a great deal, the quantity demanded of cigarettes has been reduced only slightly. 5. Is the demand for cigarettes over the period of one month price elastic or price inelastic?…
- Would you rather have efficiency or variety? That is, one opportunity cost of the variety of products we have is that each product costs more per unit than if there were only one kind of product of a given type, like shoes. Perhaps a better question is, What is the right amount of variety? Can there be too many varieties of shoes, for example?K Figure 4.2.2 The Market for Robotic Rubber Ducks Price $40 $ 50 $ 60 $70 $ 80 $ 90 $100 Quantity Demanded OA 70,450 OB. 70: 350 OC. 50:450 OD. 50, 350 OE 60,400 500 450 400 350 300 250 200 Quantity Supplied 300 350 400 450 500 550 600 Look at Table 4.2.2. Consumers learn that rubber ducks wear out batteries quickly. As a result, demand decreases by 100 rubber ducks at each pnce. The new equum price nubber ducks the new equilibrium quantity is Tine Remaining 00:30-40 NestQUESTION 20 1.00- mand 130 200 Quantity Refer to the diagram. What is the highest price that buyers will be willing and able to pay for 100 units of this product is: For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph 14px A v ... Arial O WORDS POWER Click Save and Submit to save and submit. Click Save All Answers to save all answers. DELL
