What is the equilibrium quantity of laptops

Assignment Help Business Economics
Reference no: EM131388056

For the following question, you will need to fill in the blanks with the correct numbers. When filling in the blanks, enter the NUMBERS only. Do NOT enter commas, dollar signs, percent signs, or text. If your answer is a decimal, include your decimal point and round to the nearest tenth.

Consider the market for laptop computers. The demand for laptops is Q = 1800 – 3P. Suppose the supply of laptops is given by Q = –200 +2P.

What is the equilibrium price of laptops?

What is the equilibrium quantity of laptops?

What is the price elasticity of demand at the equilibrium price and quantity?

What is the price elasticity of supply at the equilibrium price and quantity?

For the next seven questions, suppose a per-unit excise tax of $80 per laptops is levied on the consumers.

What price will sellers receive after the tax is levied?

What price will consumers pay after the tax is levied?

What percent of the tax will be paid by the consumers of laptops?  (give an answer between 0 and 100)

What percent of the tax will be paid by the suppliers of laptops?  (give an answer between 0 and 100)

How many laptops will be sold after the tax is imposed?

How much consumer surplus do consumers get after the tax?

What is the deadweight loss created by this tax?

Reference no: EM131388056

Questions Cloud

What is the modified internal rate of return : What is the modified internal rate of return (MIRR) of this project? Assume that the required rate is 12%
Whether risk of loss passed from ninth street to harrison : Harrison refused, contending that risk of loss remained with Ninth Street because of its refusal to deliver the merchandise to Harrison's place of business. Discuss whether the risk of loss passed from Ninth Street to Harrison.
Determining the project net present value : The annual operating cash flow is $54,192. The cost of capital is 13 percent. What is the project's net present value if the tax rate is 23 percent?
How can we tell what is important to the customer : How can we tell what is important to the customer? How do we handle the situation where the customer wants the bells-and-whistles but they lack the necessary funds to pay for it?
What is the equilibrium quantity of laptops : Consider the market for laptop computers. The demand for laptops is Q = 1800 – 3P. Suppose the supply of laptops is given by Q = –200 +2P. What is the equilibrium price of laptops? What is the equilibrium quantity of laptops?
Write a response about the given post : Over the past few weeks, I have done my best to put into writing many of the experiences that my coworkers and I have been a part of the past few years that I have worked in acute mental health (AMH). The events that have occurred, both the uplift..
Capital asset pricing model : Capital Asset Pricing Model (CAPM) is often used to calculate the cost of equity. In deciding the risk free rate of return, you have the following information on treasuries.
Can florabelle recover damages from sadie : Can Florabelle recover damages from Sadie, the proprietor of the dress shop, and Exotic Clothes, Inc., the manufacturer from which Sadie purchased the skirt? Explain.
What new insight can you add to your peers responses : What interesting or new insight can you add to your peers' responses? How can current assessments such as standardize testing, be biased against students who are not native speakers?

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!

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