Calculate the competitive equilibrium consumer surplus

Assignment Help Econometrics
Reference no: EM13200929

Given the following equations,
P=1000-10Q, MR=1000-20Q, and MC=400

Calculate the competitive equilibrium consumer surplus. Calculate the Monopoly-case
(a) deadweight loss,

(b) remaining consumer surplus, and

(c) consumer surplus transfer

Reference no: EM13200929

Questions Cloud

Define are consumers deriving any consumer surplus : Compared to the prices if $30 and $25, what can you say about the marginal valuation that consumers place on the 300th shirt , the 700th shirt and the 1200th shirt they might buy each year. With diminishing marginal utility, are consumers deriving ..
Find the probability that a particular child is a girl : Suppose a family plans 6 children, and the probability that a particular child is a girl is ½. Find the probabilities that the 6-child family
What is the equilibrium output of the good : The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. then what is the equilibrium output of the good.
Define the volume of wood in a tree varies jointly : The volume of wood in a tree varies jointly as the height and the square of the girth. Girth is the distance around. If the volume is 38.4 cubic feet, when the height is 30 feet and the girth is 4 feet,
Calculate the competitive equilibrium consumer surplus : Given the following equations, P=1000-10Q, MR=1000-20Q, and MC=400 Calculate the competitive equilibrium consumer surplus. Calculate the Monopoly-case (a) deadweight loss, (b) remaining consumer surplus,
By what percentage is the stock price overvalued : What do you expect the dividend (per share) to be one year from today and explain how this dividend is generated and should you use the CAPM or the WACC as the discount rate for pricing the stock
State the dimensions that produce the maximum floor area : find the dimensions that produce the maximum floor area for a one-story house that is rectangular in shape and has a perimeter
State piece of information given the following information : What would be the missing piece of information given the following information: Find the slope of the line that passes through the points
Why did one measure decrease while the other increase : Real GDP was $4719 billion in year 1 and $4848 billion in year 2. In contrast real GDP per ca pita in year 1 was $19261, but in year 2 it was only $19162. Why did one measure increase while the other measure decreased

Reviews

Write a Review

Econometrics Questions & Answers

  Find the maximum likelihood estimator

Suppose that \(X_{1},X_{2},....,X_{n} \) is an i.i.d. random sample, where \(X_{i}\) follows a normal distribution, with mean zero and unknown variance \(\sigma^{2}\) . Find the Maximum Likelihood Estimator of \(\sigm..

  What is the future worth in year 5 of savings

New actuator element technology enables engineers to simulate complex computer-controlled movements in any direction. If the technology results in cost savings in the design of amusement park rides, what is the future worth in year 5 of savings.

  Are gold and silver substitutes or complements

One of their new MBA financial wizards has estimated the following relationship for gold sales in the past year of trading (250 observations): Q = 4,000 - 0.01P + 1.5I - 1.25X + 2.0S R2 = .96 (857) (0.002) (0.65) (0.44) (0.48) where Q = daily sale..

  Forecast health care expenditures for households

Suppose Y is household income and he is household expenditures on health care. Use the data from the regression output to answer the given question:

  Find the competitive price and quantity of paper

The supply of paper is given by the following equation: Qs = 5,000P and the demand for paper is given by: Qd = 400,000 - 1,000P. The Q's are in tons. There is pollution associated with the production of paper causing marginal external damages of $..

  How much total money will she have saved

Baby boomers can save up to $22,000 per year in a 401k account. If Eileen's starting balance at age 50 is $200,000 and she saves the full amount available to her, how much money will she have saved when she is 65 years old (after 15 years of savin..

  How should marginal cost vary its original output and price

Modifying a product to increase its "value added" benefits customers and can enhance supplier profits. For example, suppose an improved version of a product increases customer value added by $25 per unit. (In effect, the demand curve undergoes a p..

  Find the profit-maximizing output level

You are the manager of a company that vaccinates human beings for biological diseases. Your company uses two inputs to produce vaccinations: physicians and laboratories. However, this is a short-run analysis where physicians are variable but labor..

  What would be the effect on the equilibrium price

Two cournot duopolists produce in a market with a demand P(Q)=100-Q. The marginal cost for Firm 1 is constant and equals 10. The marginal cost for Firm 2 is constant and equals 25. The two firms want to merge, which would leave a monopoly.

  Calculate gdp-ni and ndp

Using the following national income accounting data, compute (a) GDP, (b) NDP, and (c) NI. All figures are in billions. Category Value, Compensation of employees $216.2, U.S. exports of goods and services 19.8, Consumption of fixed capital 11.8,Gover..

  Determine extreme points of linear combination

Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she can raise 200..

  What equal amount can you withdraw from the account

Today you have a savings account of $15 620. Based on an annual interest rate of 4.2%, what equal amount can you withdraw from the account at the end of each month for three years and leave $4 000 in the account

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