User Account

All Pages

Show the consumer surplus on the graph

Assignment Help Business Economics
Reference no: EM132592919

Assume the market price for lemon grass is $4.00 per pound, but most buyers are willing to pay more than the market price. At the market price of $4.00, the quantity of lemon grass demanded is 1,500 pounds per month, and quantity demanded does not reach zero until the price reaches $30.00 per pound.

Construct a graph showing this data, and show the consumer surplus on the graph.

Reference no: EM132592919

Questions Cloud

Examine the role of audit committees : Question - Examine the role of audit committees. Your answer should address ,as a minimum, the following questions: What are audit committees
Determining the position delta : If the following two portfolios contain the same delta points, what should be the number of CALL options contracts N in portfolio B?
Understanding of the benefits of operating : Can you give your feedback to the following Question? The company is Oligopoly Market Structure.
What amount of gain where does olive report the sale : She sold it four months later in the same year for $10,500. What is the amount of gain or loss, and where on Form 4797 does Olive report the sale?
Show the consumer surplus on the graph : Construct a graph showing this data, and show the consumer surplus on the graph.
What is the dividend yield of a stock : Question - What is the dividend yield of a stock which just paid a dividend of $1, has an expected growth rate of 0.07 and a current price of $35
What do schedule performance index : What do Schedule Performance Index and the Cost Performance Index demonstrate? How can project manager use information to estimate future project performance?
Difference between fiscal-monetary policies : Briefly describe the difference between Fiscal & Monetary policies.
Which state laws determine foreclosure process for property : Ohio to Nicole, a resident of Indiana. Nicole failed to make payments on the loan. Which state's laws determine the foreclosure process for the property?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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