Calculate what is the loss in consumer surplus

Assignment Help Econometrics

Reference no: EM13206584

the marginal cost of a television set is $100.00 This is constant and equal to the average cost of the television set. The demand is given by the following equation Q=200,000-500(p)

a. if televisions are sold in a perfectly competitive market, calculate the annual number sold. under what conditions will the market equilibrium be economically efficient?

b. suppose tv sets are banned. calculate the loss in consumer surplus as a result of this action

Reference no: EM13206584

Questions Cloud

What is the speed of a plane traveling : what is the speed of a plane traveling 490 mph with the wind and 390 mph against the wind.

What is the average cost of a movie to sarita : The principal of Hamilton High School found that requiring those students who were failing algebra to attend an after- school tutoring program resulted in a 30 percent average increase in their algebra grades. Based on this success, the principal ..

Court observation report : Did the accused person appear to understand what was happening and did police give evidence in an appropriate and 'disinterested' manner

Salicylic acid with methanol to yield methyl salicylate : salicylic acid with methanol to yield methyl salicylate why wouldnt you use a strong base like sodium hydroxide?

Calculate what is the loss in consumer surplus : a. if televisions are sold in a perfectly competitive market, calculate the annual number sold. under what conditions will the market equilibrium be economically efficient b. suppose tv sets are banned. calculate the loss in consumer surplus as a r..

Can management reduce the cost of assembling : The Textile Workers of America is planning to strike for higher wages. Management predicts that, if the strike is successful, the cost of labor will increase to $100 per day. If the strike is successful, how would this affect the decision in quest..

How manager of largo publishing house adjust input usage : The Largo Publishing House uses 400 printers and 200 printing presses to produce books. A printer's wage rate is $20, and the price of a printing press is $5,000. The last printer added 20 books to total output, while the last press added 1,000 bo..

How many feet does car travel before coming complete stop : A car traveling at 48 ft/sec decelerates at a constant 6 feet per second squared. How many feet does the car travel before coming to a complete stop?

Determine the number of fence posts : Determine the number of fence posts, placed 1 meter apart, needed to make a 100 meter fence.

User Account

All Pages