What is the total purchase of tennis racquets

Reference no: EM13936046

Quantity demanded & market price quantity supplied & market price
0 100 0 40
25 80 15 50
40 50 25 80

a. What is the total purchase of tennis racquets? Why?

b. What is the consumer surplus? Why?

c. What is the increase in consumer surplus when the market price drops to $ 50?

d. What is the increase in producer surplus when the market jumps to 80?

e. Deduce and explain the total surplus
Consider a hypothetical example of trade between the United States (a developed country) and Brazil (a developing country) is as follow

	U.S. Exports ($b) to Brazil	U.S. Imports ($b) from Brazil
Lotion & Powder	80	65
Perfume	70	120
Fragrance	100	70

Find:

a. the total trade ( TT) between the US and Brazil
b. the net trade (NT)
c. the intra industry trade (IIT)
d. the intra industry trade share

Required: All work must be typewritten. The theoretical questions can beresearched and paraphrased (put in your own words) since this is not a copy and paste exercise. Credit must be given to your sources of information and a work cited section must be provided. The practicum responses mustshow the work not just the answer.

Reference no: EM13936046

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