IMPORTANT! PLEASE ONLY DO D) AND SHOW THE GRAPH FOR IT AS WELL AS THE MATH
IMPORTANT! PLEASE ONLY DO D) AND SHOW THE GRAPH FOR IT AS WELL AS THE MATH...
****IMPORTANT***** ONLY NEED C AND D. for C i got deadweight loss equal to 1800. I wanna know if I did this correctly. For D I am completely lost. Please show all your work and ill give you a thumbs up. Please be accurate. Thanks! 1) Suppose demand for automobiles in the United States is given by P-100-0.09QD where Pis the price for new vehicles in dollars and Qp is the quantity demanded per month Assume the supply of automobiles...
Suppose demand for automobiles in the United States is given by: P= 100−0.09QD where P is the price for new vehicles in dollars and QD is the quantity demanded per month. Assume the supply of automobiles is given by P= 4 + 0.03QS where again P is the price in thousands of dollars and QS is the quantity sold per month in hundreds of thousands. a.) Solve for the market equilibrium price and quantity. b.) Depict this market graphically, and...
Question 1 (10 pts) Consider the following market. Demand is given by Qp 5-P where Qp is the quantity demand and p is the price. Supply is given by Qs - F where Qs is the quantity supplied. a. What is the market equilibrium quantity and price? b. Calculate consumer, producer, and total surplus. Depict your answer in a graph. c. Suppose the government imposes a price floor of P- 4. Calculate the consumer surplus, producer surplus, and deadweight loss....
Consider the following market. Demand is given by 5- P where Qo is the quantity demand and P is the price. Supply is given by Qs- where Qs is the quantity supplied. a. What is the market equilibrium quantity and price? b Calculate consumer, producer and total surplus Depict your answer in a graph. c. Suppose the government imposes a price floor of P - 4. Calculate the consumer surplus, producer surplus, and deadweight loss. Depict your answer in a...
Consumer & Producer Surplus If QP = 450 - P and Q* = 2P - 150: a. Solve for the market equilibrium price (P) and market equilibrium quantity (Q*). (4 points) b. Solve for consumer surplus, producer surplus and total surplus. (4 points) 2. Welfare Effects of a Per Unit Tax Given the same demand and supply equations as in question #1, suppose the government imposes a per unit tax of $15: 22 a. Solve for the new equilibrium quantity...
Consider the market for luxury yachts depicted on the following graph. Determine the equilibrium price and quantity of luxury yachts in the absence of a tax. Using the green triangle (triangle symbols), shade the area representing total consumer surplus (CS) at the equilibrium price. Next, use the purple triangle (diamond symbols) to shade the area on the following graph representing total producer surplus (PS) at the equilibrium price. PRICE (Thousands of dollars per yacht! Supply 0 10 20 Demand 30...
*ONLY NEED HELP WITH PARTS E & F please show all steps so I can fully understand how to solve. Thank you ! explain 4. Suppose that the demand curve and supply functions are go = 300-5p and qs = 100+20p. respectively. (a) On the same graph, draw the demand and supply curves with price on the vertical axis. (b) What is the quantity and price in the equilibrium? (c) Calculate consumer surplus and producer surplus (d) Suppose the government...
Basic Microeconomics D-S Analysis: Suppose the demand and supply curves are specified as: Qa = 100-P & Q. =P -20. (a) What is the equilibrium price and quantity in this market? (b) Solve for producer surplus and consumer surplus at equilibrium. (c) Construct a D-S diagram depicting (a) and (b) above. (d) Suppose the government sets a price ceiling = $50. i. Solve for the surplus or shortage at this price. ii. Solve for the resulting consumer surplus and producer...
wanna check final answer I already did it Taxation Suppose now the government decides to intervene the market with a tax on producers of $4, determine the price for the consumer, the g. price for the producer, and the quantity produced with the tax Draw a graph (Diagram 4) representing the market for Hallowcen costurmes with a tax on producers of $4. Accurately label and show the h. area for consumers (CS), producer surplus (PS), deadweight loss (DWL), and government...
1. Refer to the graph below to answer the following questions Price A. Quantity a. What is the producer surplus at the equilibrium price? b. What is the consumer surplus at the equilibrium price? c. What is the producer surplus of new manufacturers when the product price changes from P to P? d. Will consumer surplus increase or decrease (circle your answer) when the product's price decreases from Ps to P? What is the size of the change in consumer...