Advanced analysis given the following diagrams q1 12 bags

Assignment Help Microeconomics
Reference no: EM13377744

(Advanced Analysis) Given the following diagrams: Q1 = 12 bags. Q2 = 7 bags. Q3 = 19 bags. The market equilibrium price point b is $34 per bag.

The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $49 and the price at point e is $24 per bag. The price at point f is $48 and the price at point g is $13 per bag.

a. Apply the formula for the area of a triangle (Area = ½ × Base × Height) to answer the following questions.

b. What is the total surplus when output level Q2 is being produced??

c. What is the dollar value of the deadweight loss when output level Q3 is produced?
d. What is the dollar value of the total surplus when output level Q3 is produced??

Reference no: EM13377744

Questions Cloud

Solve the two question below using excel spreadsheet1 a : solve the two question below using excel spreadsheet.1. a small machine costs 10000 and at the end of a 5 year life
Asume two airlines serve many of the same routes : assume two airlines serve many of the same routes. travelers notice there is rarely any significant difference in
Consider the table below for the neighboring nations of : consider the table below for the neighboring nations of northland and west coast. the table lists the maximum feasible
Suppose virginia withdrew 10000 from her bank if the : suppose virginia withdrew 10000 from her bank. if the reserve ratio is 2 percent theen this transaction willl lead to
Advanced analysis given the following diagrams q1 12 bags : advanced analysis given the following diagrams q1 12 bags. q2 7 bags. q3 19 bags. the market equilibrium price point
For every penny that the price of gasoline goes up the us : for every penny that the price of gasoline goes up the u.s postal usps service experiences a monthly fuel cost increase
In a competitive market the market demand is qd 400 - 5p : in a competitive market the market demand is qd 400 - 5p and the market supply is qs 10p - 80. a price ceiling of 32
Suppose market demand and supply are given by qd 300 - 4p : suppose market demand and supply are given by qd 300 - 4p and qs -50 3p. the equilibrium price isa 35.b 40.c 50.d
Consider a market characterized by the following demand and : consider a market characterized by the following demand and supply conditions px 15 - 2qx and px 3 2qx. the

Reviews

Write a Review

Microeconomics Questions & Answers

  Proposals on total surplus including social cost and benefit

Describe the likely impact of each of these three proposals on total surplus including social cost and benefit and Which of these proposals is most consistent with the Coase approach to externalities

  Define rate of population growth

Other things the same, in the Solow model in the steady state, a higher rate of population growth ________ growth rate of output per worker.A higher rate of saving at the national level will, in the long-run ________.

  Compare and constract equilibrium for a monopolistic fir

Compare and constract equilibrium for a monopolistic fir and that of a perfectly competitive firm. clearly labelled diagrams should be included

  New good or service business proposal selectnbspa new good

new good or service business proposal selectnbspa new good or service for an existing business or a business that you

  What is the rate of output that maximizes zzz

ZZZ, Inc. operates in a monopolistically competitive industry. Its demand curve can be written as P = 160 - Q and its short run total cost curve is equal to TC = 1000 + Q^2. What is the rate of output that maximizes ZZZ, Inc.'s short run profits

  When the price of a commodity falls

When the price of a commodity falls by Rs.2 per unit,its quantity demanded increases by 10 units. Its price elasticity of demand is (-)1. Calculate its quantity demanded at the price before change which was Rs.10 per unit. You may change Rupee[In..

  What is the optimal level of production of wine

What is the optimal level of production of wine decanters and what is the marginal revenue from the last wine decanter sold and what are the total revenue, total cost, and net benefit (profit) from selling the optimal number of wine decanters?

  Theme the eu and turkey scenarios to 2050 general

theme the eu and turkey scenarios to 2050 general guidelinesa. the eu and turkey can be seen in their long-term

  Consider the following problem there are two generators in

consider the following problem there are two generators in this system and there is a load of 1000mw. there is only one

  1 when the government increases taxes to provide

1. when the government increases taxes to provide traditional public goods such national security there tends to bea.

  Part 1 firm perspective1 use the following article and your

part 1 firm perspective1. use the following article and your own research to answer the following questionscompetitive

  Do brief research on asean economic community

Question:  Do brief research on ASEAN Economic Community (AEC) and discuss on the following questions: How does the AEC affect the multinational firms investing in AEC members? What is the effect of AEC on the U.S. economy?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd