User Account

All Pages

What is the dollar value of the total surplus

Assignment Help Econometrics
Reference no: EM13179553

Given the following diagrams: Q1 = 15 bags. Q2 = 10 bags. Q3 = 22 bags. The market equilibrium price point b is $25 per bag.

The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $40 and the price at point e is $20 per bag. The price at point f is $32 and the price at point g is $4 per bag.

Apply the formula for the area of a triangle (Area = ½ × Base × Height) to answer the following questions.

a. What is the dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output Q1 level is being produced?

How large is the dollar value of the consumer surplus at that output Q1 level?
Instructions: Round your answer to one decimal place.

b. What is the dollar value of the deadweight loss when output level Q2 is being produced?
Instructions: Round your answer to one decimal place.

What is the total surplus when output level Q2 is being produced?
Instructions: Round your answer to one decimal place.

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: EM13179553

Questions Cloud

State a net ionic equation for any reaction that would occur : describe the observations you would make and write a net ionic equation for any reaction that would occur.
What is the efficient scale and minimum average cost : What is the cost function, marginal cost function, and average cost function for each plant? b) What is the efficient scale and minimum average cost for each plant? c) What is the cost function for the firm?
Compute the molar concentration of a solution : Calculate the molar concentration of a solution prepared by dissolving 2.34 g of sodium sulfate (MW = 142) in enough waterto make 250 ml of solution.
Compute the potential on the left and right : the Nernst Equation to calculate the potential on the left and right. (Assume the standard potential for the left side equals 1.33 and the right side equals 0.268
What is the dollar value of the total surplus : The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $40 and the price at point e is $20 per bag. The price at point f is $32 and the price at point g is $4 per bag. Apply the formula for the area of a trian..
Depict the photoelectron spectrum of n2 : show the photoelectron spectrum of N2.Assign short and long progression band.. which one is adiabatic band. give your explanation on basis of FCP. No google copy- paste thing please.
What single sum of money : What single sum of money at t=6 is equivalent to the following cash flow profile if i=10%? N cash flow 1  -400 2  100 3  100 4 100 5  0..

Reviews

Write a Review

Econometrics Questions & Answers

  Estimation of the mean and the standard deviation

The price earnings ratio for each stock is determined through dividing the value of a share of stock by the earnings per share reported by the firm for the most recent 4-quarters.

  Calculate the unemployment rate

The following table gives the joint probability distribution between employment status and college graduation among those either employed or looking for work (unemployed) in the working age U.S. population for 2008.

  Compute the elasticity variable

Compute the elasticity for each variable and briefly comment on what that data gives you in each case.

  Seasonal economic factors and cyclical economic factors

The United States is currently recovering from its bad recession in over twenty-five years. Applying the resource provided in this and earlier modules of course describe what factors or activities you think helped cause this economic condition.

  Find equilibrium wage

Explain a possible cause for the change in Ns 4. Estimate the elasticity of demand for B&B professionals in the macroeconomy (calculation and explanation) 5. Graph the two equilibrium conditions 2 X-intercept for Ns; Y-intercept and X-intercept for N..

  Calculate nominal gdp using the expenditure approach

Consider an economy that produces only two goods: fresh apricots and dried apricots. In this economy, the technology of producing dried apricots is to place fresh apricots on special racks and allow them to dry in the sun. Fannie's Farms is the on..

  Relationship between price and quantity demanded

Discuss the relationship in the price and quantity demanded in question four on a graph. Is the relationship direct or inverse?

  Describe standard normal distribution

Define a variable Z that is a function of the sample average ? and follows a standard normal distribution. What is the probability that ? will be in the interval [1, 3] What is the probability that ? will be in the interval [-1, 1] What is the probab..

  Estimating the multiplier

Recall from introductory economics that an raise of $1 in government spending may raise GDP through more than $1. The exact value by which GDP goes up is multiplier.

  Revenues and costs associated with the new product

The intensive development effort needed to expedite the introduction can be very expensive. Revenues and costs associated with the new product

  Solving simple regression based question

The Rapid Engine Corporation is a multinational producer os small gasoline and Diesel motors. Rapid hs estimated the given cost experience for a new 3.5hp engine over a sample of 122 observations.

  Discuss signs and magnitudes of the estimated coefficients

Discuss the signs and magnitudes of the estimated coefficients and their comparisons to predicted or theoretical signs and magnitudes. What have we learned?

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