Question

In a market demand and supply equations are:

The demand curve is given as: P = 50 - 3Q

The supply curve is given as: P = 10 + 2Q

Assuming a **monopoly** market, What is the
consumer surplus?

Answer #1

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...

Market demand for calculators is P = 300 – 3Q and market supply
is P = 20 + 2Q. A) Calculate market equilibrium price and quantity.
B) How many calculators will be traded if a $10/unit sales tax is
implemented? C) Does it matter if we impose this tax on suppliers
or consumers? Why? D) At market equilibrium, is demand more or less
elastic than supply? E) Calculate the effects of the tax on
consumer surplus, producer surplus, tax revenue,...

The demand for milk is
P = 150 - 2Q
the supply curve is
P = 4Q.
What is the level of consumer surplus at the equilibrium price
and quantity?

A market has a demand curve given by P = 800 – 10Q where P =
the price per unit and Q = the number of units. The supply curve is
given by P =100 + 10Q.(10 points) Graph the demand and supply curves and calculate
the equilibrium price and quantity in this market.(5 points) Calculate the consumer surplus at equilibrium.(5 points) Calculate the producer surplus at equilibrium.(5
points)(5 points) Calculate the total surplus at equilibrium

Use the following equations to answer the remaining homework
questions: Demand: P = 80 – 3Q Supply: P = 2Q + 20 What is the
equilibrium price? What is the equilibrium quantity? What is the
consumer surplus? What are total expenditures for consumers? What
is producer surplus? What is the total revenue for the
producer?

Suppose the world price for a good
is 40 and the domestic demand-and-supply curves are given by the
following equations:
Demand: P = 80 – 2Q
Supply: P = 5 + 3Q
a. How much is
consumed?
b. How much is produced
at home?
c. What are the values
of consumer and producer surplus?
d. If a tariff of 10
percent is imposed, by how much do consumption and
domestic production change?
e. What is the change in
consumer and...

In a market with numerous sellers and buyers demand is given by
p=240-8q and supply is p=4+12q.
1. Find the equilibrium price and quantity.
2. Mathematically find the values for consumer and producer
surplus.
3. What is the deadweight loss in this market?
4. Suppose instead a monopolist served these same buyers, and
the monopolist had marginal cost curve 4+12q. a. Show graphically
the consumer surplus that consumers have lost due to monopoly. b.
Consumer surplus is lower for two...

Consider the market for Potatoes in Delhi NCR where the demand
curve is given by: P = a − bQd and the supply curve is given by: P
= c, where a > 0, b > 0, and c > 0 are positive constants.
Calculate the consumer surplus generated in equilibrium of this
market. Is the consumer surplus always positive?

Consider the market for Potatoes in Delhi NCR where the demand
curve is given by: P =
a-b(Qd) and the supply curve is given by: P = c, where a > 0, b
> 0, and c > 0 are positive
constants. Calculate the consumer surplus generated in equilibrium
of this market. Is the
consumer surplus always positive?

In a perfectly competitive market, the supply function is P= 1 +
2Q, and the demand function is P = 25 - Q. Hence, in this market,
consumer surplus is _____ and producer surplus is _____. If this
market was to become the monopoly of a single firm with a marginal
cost of production equal to 11, then the welfare loss would be
____.
a) 30; 60; 3
b) 32; 64; 1.5
c) 32; 64; 3
d) 62; 34; 6

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