Calculate the consumer surplus and producer surplus

Assignment Help Business Economics

Reference no: EM13836368

Assume that a monopolist has a demand curve given by P=1500-4Q, and TC= 100 + 5Q² with MC=10Q.

1. Calculate the dead weight loss

2. Calculate the consumer surplus and producer surplus.

Reference no: EM13836368

Questions Cloud

Does steady state consumption rise or fall : Solow Diagram and Transition Paths. Assume that initially an economy is saving at a rate that exceeds its golden rule saving rate and that the economy is in a steady state equilibrium. Suppose that the economy reduces its saving rate towards the gold..

Problem regarding the transportation problem : 1. Consider the following transportation problem:

Carbon composition resistors with mean resistance : Carbon composition resistors with mean resistance 560 O and coefficient of variation 10% are produced by a factory. They are sampled each hour in the quality control lab. What sample size would be required so that there is 95% probability that the me..

Graphical implications of agricultural production : Show the graphical implications of agricultural production increasing at a rate that is faster than population increases during the same time period. Explain the outcomes.

Calculate the consumer surplus and producer surplus : Assume that a monopolist has a demand curve given by P=1500-4Q, and TC= 100 + 5Q2 with MC=10Q. Calculate the dead weight loss. Calculate the consumer surplus and producer surplus.

What should we do about prison overcrowding : What should we do about prison overcrowding? What role will prisons play in the future? Will the focus be punishment or treatment

Consumer electronics inflation rate : Padayappa has now retired after 40 years of employment. He just made an annual deposit to his investment portfolio and realized he has $2,400,000. If he could buy a TV 40 years ago for $600, what would a comparable one cost today if the consumer ele..

Layout this situation as simultaneous move game : You and your roommate are in a tough position. Both of you value a clean apartment at 100, and a dirty apartment at 30. The total cost of cleaning the apartment is 80. This means that, if you both clean the apartment, you both get a payoff of 60. Lay..

What specific product liability claims : Dave wants to sue Ace, on behalf of his minor son, Zak, under strict product liability. Under what specific product liability claims would you advise Dave to sue Ace and why

User Account

All Pages