Homework Answers
Ans.-19 - (A)
It can be easily seen from the diagram that equilibrium price is 50 and equilibrium quantity is 42.
Ans.20- (C)
Ans.21- (A)
Initial consumer surplus= 1/2 * (100-50)*(42-0) = 1050
Ans.22 - (D)
Subsidy cost equal 1000 here.
Initial producer surplus = 1/2*(50-10)*(42-0) = 840
So, answer for 23 is none of these.
Add Answer to:
Help with an explanation would be amazing! Figure 2: A Subsidy Price 8 8 8 Quantity 19. What is the initial market...
Figure 2: A Subsidy 19. What is the initial market price and quantity, before the subsidy...
Figure 2: A Subsidy 19. What is the initial market price and quantity, before the subsidy is enacted? (A) P-50, -12 (B) p-40, 42 (C) p* = 40, 4* - 50 (D) p = 50, y = 50 20. What is the market price and quantity, with the subsidy enacted? (A) p' - 50,4 - 12 (B) p* -00, -12 50,q' - 50 21. What is the initial Consumer Surplus? (A) $1,050 (B) $1,500 (C) $460 (D) None of the...
Figure 2: A SubsidyQuantityPrice42504050DEMANDSUPPLYSUPPLY100(With subsidy)1019.What is the initial market price and quantity, before the subsidy...
Figure 2: A SubsidyQuantityPrice42504050DEMANDSUPPLYSUPPLY100(With
subsidy)1019.What is the initial market price and quantity, before
the subsidy is enacted?(A)p∗= 50,q∗= 42(B)p∗= 40,q∗= 42(C)p∗=
40,q∗= 50(D)p∗= 50,q∗= 5020.What is the market price and quantity,
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40,q∗= 50(D)p∗= 50,q∗= 507
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Illustrate graphically the economic effects of an export subsidy of 15% if the world price is...
Illustrate graphically the economic effects of an export
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A $30 per unit production subsidy would cost how much to
taxpayers?
$30,000
$24,000
$27,000
$26,500
A $30 per unit production tax would generate how much tax
revenue?
$30,000
$24,000
$27,000
$26,500
A $30 per unit subsidy given to the producer would result in what
new market price for consumers?
$20
$10
$40
$30
A $30 per unit tax on the producers would result in what new
market price for consumers?
$60
$50
$70
$55
How much consumer surplus is...
30) The figure above shows that the government provides a subsidy to the farmers of ________...
30) The figure above shows that
the government provides a subsidy to the farmers of ________
million.
A) $350
B) $1,050
C) $50
D) $100
E) $700
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Need help with question 9 please!!!!!
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Illustrate graphically the economic effects of an export
subsidy of 15% if the world price is 90. Compute the producer
surplus. Numbers 8-10 please.
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A $30 per unit production subsidy would cost how much to
taxpayers?
$30,000
$24,000
$27,000
$26,500
A $30 per unit production tax would generate how much tax
revenue?
$30,000
$24,000
$27,000
$26,500
A $30 per unit subsidy given to the producer would result in what
new market price for consumers?
$20
$10
$40
$30
A $30 per unit tax on the producers would result in what new
market price for consumers?
$60
$50
$70
$55
How much consumer surplus is...
30) The figure above shows that
the government provides a subsidy to the farmers of ________
million.
A) $350
B) $1,050
C) $50
D) $100
E) $700
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