What is the dollar value of consumer surplus at equilibrium

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Reference no: EM133363891

Question: The demand curve for an Uber ride from Cal Poly to the SLO County airport during a weekday morning is given by PD = 28 - 0.4Q and the supply curve is given by Ps = 1 + 0.5Qs.

a) What is the dollar value of consumer surplus at the equilibrium?

b) What is the dollar value of producer surplus at the equilibrium?

c) If a $9 tax is imposed on Uber rides, what will be the resulting price paid by riders and what will be the price received by Uber? What share of the tax burden will fall on Uber riders?

d) What is the dollar value of the deadweight loss from this tax?

Reference no: EM133363891

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