What is dollar value of total surplus when output level is q

Assignment Help Econometrics

Reference no: EM13241614

Assume the following values , Q1 =20 bags, Q2=15 bags. Q33= 27 bags. The market equilibrium price is $45 per bag. The price at a is $85 per bag. The price at c is $5 per bag. The price at f is $59 per bag. The price at g is $31 per bag. Apply the formula for the area of the triangle (Area = ½ X Base X Height).

A.) What is the dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output level is being produced? How large is the dollar value of the consumer surplus at that output level?

b.) What is the dollar value of the deadweight loss when output level Q2 is being produced? What is the total surplus when output levelQ2 is being produced?

c.) What is the dollar value of the deadweight loss when output level Q3 is produced? What is the dollar value of the total surplus when output level Q3 is produced?

Reference no: EM13241614

Questions Cloud

Apply the midpoints approach to the elasticity of supply : Currently at a price of $1.00 each 100 popcicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run a price increase from $1 to $2 is a unit -elastic (Es =1.0)

Findings in the industry at the next managerial meeting : Your management team sees a number of similarities between your company operations and various aspects of the LG Electronics case(attached). You are asked to research the case and then to bring the outcome up to date with recent findings in the indus..

What is the potential difference across the three resistors : Three resistors, 28, 48, and 80 ?, are connected in series, and a 0.53-A current passes through them. What is the potential difference across the three resistors

When testing two populations with small sample sizes : When testing two populations with small sample sizes, do both sample sizes have to be identical? Why or why not?

What is dollar value of total surplus when output level is q : What is the dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output level is being produced How large is the dollar value of the consumer surplus at that output level

When would you use a hypothesis test for the difference : When would you use a hypothesis test for the difference in two population proportions at your place of employment?

What statistics test should i be using when i am assessing : What statistics test should I be using when I am assessing whether subjects were able to complete a task (i.e. Yes/No nominal data) before instructions, after instructions and then again after a demo

Is is possible to modify a semantic differential scale into : Is is possible to modify a semantic differential scale into a 10-point scale? If so, should the data be treated as ordinal or interval?

What are the essential weaknesses in evaluation methods : What are the essential weaknesses in each of these evaluation methods?

User Account

All Pages