Question

demands for necklace is given by P=90- 0.25Q and supply of necklace is given by P= 10+ 0.15Q

draw the graph and show if if there is price ceiling at 30 what will be consumer surplus and producer surplus

Answer #1

Suppose demand for apartments in Honolulu is P=6000-0.5q and
supply is P=0.25q.
a. Derive the equilibrium price and quantity for apartments.
Show on a graph. Calculate the producer and consumer surplus.
b. If the city of Honolulu passes a rent control, forcing a rent
(or price) ceiling equal to $1600, what is the quantity supplied,
quantity demanded, and the shortage? Calculate the new consumer
surplus, producer surplus, and deadweight loss, and show these on
your graph.
c. If a black...

Suppose demand for apartments in Honolulu is P=6600-0.5q and
supply is P=0.25q. Derive the equilibrium price and quantity for
apartments. Show on a graph. Calculate the producer and
consumer surplus. If the city of Honolulu passes a rent control,
forcing a rent (or price) ceiling equal to $1800, what is the
quantity supplied, quantity demanded, and the
shortage? Calculate the new consumer surplus, producer
surplus, and deadweight loss, and show these on your graph. If a
black market develops after the rent...

The inverse Demand is given by: P=30-0.25Q and the inverse
supply is given by: P=0.5Q-30. If a Price Floor of $12 is imposed,
then Consumer Surplus and DWL
are: (Hint: it helps to draw a graph for this question)
Select one:
a. CS=1728; DWL = 12
b. CS=648; DWL = 12
c. CS=1600; DWL = 6
d. CS=648; DWL = 24
e. None of the above

The inverse Demand is given by: P=40-0.2Q and the inverse supply
is given by: P=0.2Q-20. If a price ceiling of $6 is imposed, then
Producer surplus and DWL
are: (Hint: it helps to draw a graph for this
question).

The demand for sunglasses is given by D(p) = 100 − 2 p and the
supply curve is given by S(p) =3p
(a) Compute the equilibrium price and equilibrium quantity of
sunglasses.
(b) Sketch both the demand and supply curves on the same graph
(be sure to label your axes correctly).
(c) Determine the value of consumer surplus and producer surplus
at the equilibrium values. Suppose all sunglasses are imported from
China. Suppose also that the government imposes an import...

Consider the market for butter in
Saudi Arabia. The demand and supply relations are given as
follows:
Demand:
QD = 12 - 2P
Supply:
Qs = 3P - 3.
P is the price of butter.
Calculate:
Equilibrium price _____________
2. Equilibrium quantity _____________
Consumer surplus
___________
4. Producer surplus ___________
Draw the demand and supply graphs. Show the equilibrium price
and quantity, consumer surplus and producer surplus in the graph
below. Graphs must be on scale.
Suppose government imposes...

1) Suppose Demand for Apples (in bushels) is given by Q = 90-P
and Supply is given by Q = P. The market for apples is dominated by
a single, monopolistic firm "NYC Apples". What is NYC Apples profit
at the monopoly price? 2) Suppose Demand for Apples (in bushels) is
given by Q = 90-P and Supply is given by Q = P. The market for
apples is dominated by a single, monopolistic firm "NYC Apples".
How much more...

Suppose the doll company American Girl has a demand curve of P =
150 – 0.25Q. The marginal cost is given by MC = 10 + 0.50Q. A)
Calculate consumer surplus and producer surplus at the profit
maximizing level of output. B) Calculate deadweight loss at the
profit maximizing level of output. C) Calculate consumer surplus,
producer surplus, and deadweight loss at the efficient level of
output.

A market has supply and demand curves that follow the following
set of equations: Supply → P = 4QS + 10 Demand → P = -5QD + 280.
For both of these problems pictures are not required but the
problems may be much easier if you draw some.
a) Find the equilibrium price and quantity in this market and
the consumer and producer surplus from the equilibrium price and
quantity. (1 point)
b) If there is a ceiling price in...

The market for apples is perfectly competitive, with the market
supply curve is given by P = 1/8Q and the market demand curve is
given by P = 40 – 1/2Q.
a. Find the equilibrium price and quantity, and calculate the
resulting consumer surplus and producer surplus. Indicate the
consumer surplus and producer surplus on the demand and supply
diagram.
b. Suppose the government imposes a 10 dollars of sale tax on
the consumer. What will the new market price...

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