Calculate the dollar value of australian consumer surplus

Assignment Help Finance Basics

Reference no: EM13275305

Assume the nation of Australia is "small ???and thus unable to influence world price. Its demand and supply schedules for TV sets are shown in Table 4.13.Using graph paper, plot the demand and supply schedules on the same graph. a. Determine Australia???s market equilibrium for TV sets. (1) What are the equilibrium price and quantity? (2) Calculate the value of Australian consumer surplus and producer surplus. b. Under free-trade conditions, suppose Australia imports TV sets at a price of$100 each. Determine the free-trade equilibrium, and illustrate graphically. (1) How many TV sets will be produced, consumed, and imported? (2) Calculate the dollar value of Australian consumer surplus and producer surplus. Price of TV???s Quantity Demanded Quantity Supplied $500 0 50 $400 10 40 $300 20 30 $200 30 20 $100 40 10 0 50 0

Reference no: EM13275305

Questions Cloud

What is the speed of the puck after the collision : A 0.450-kg ice puck, moving east with a speed of 5.46m/s, What is the speed of the 0.450-kg puck after the collision

Which of the following is a primary market transaction : Which of the following is a primary market transaction?

Explain how to make a naoh solution in ethanol : We need to make a 4% NaOH solution in ethanol. How much NaOH do we add to 50.0 mL of ethanol to make a 4% NaOH solution. Density of Ethanol=0.789 g/mL molar mass= 46.06844 g/mol and NaOH molar mass= 39.997 g/mol.

Find the impulse imparted to the golf ball : A golf ball of mass 0.045 kg is hit off the tee at a speed of 34m/s. Find the impulse imparted to the golf ball

Calculate the dollar value of australian consumer surplus : Calculate the dollar value of Australian consumer surplus and producer surplus. Price of TV???s Quantity Demanded Quantity Supplied $500 0 50 $400 10 40 $300 20 30 $200 30 20 $100 40 10 0 50 0

What is the base-emitter voltage of the latter transistor : In a particular technology, a small BJT operating at vBE = 28VT conducts a collector current of 100 µA. What is the corresponding saturation current. For a transistor in the same technology but with an emitter junction that is 32 times larger.

Explain pair of amino acid substitutions : You are performing site-directed mutagenesis to test predictions about which residues are essential for a protein's function. Which of each pair of amino acid substitutions listed below would you expect to disrupt protein function the most

Estrimate the acceleration of the system : A mass of 3kg, is sitting on a 34Â° incline and is connected by a massless string over a pulley in the shape of a hollow cylinder, estimate the acceleration of the system

What is the corresponding amplitude of vsig and v0 : An Emitter follower with a BJT biased at Ic = 1mA and having β = 100 is connected between a source with Rsig = 20kg and a load RL = 1kg. a) find Rin, vb/vsig, and v0/vsig. b) If the signal amplitude across the base-emitter junction is to be limitd t..

User Account

All Pages