How much is the consumer surplus and producer surplus

Assignment Help Business Economics
Reference no: EM131244213

Suppose the market demand function (expressed in dollars) for a normal product is P = 100 – 2Q and the Supply Curve is P= 10 + Q, where P is the price of the product and Q is the quantity demanded or supplied. Assume that the Marginal External Cost curve is MEC = 5 + 0.5Q. Here are the specific questions: (show all of your calculations and draw the graph).

In a competitive market

What is the equilibrium price and quantity?

How much is the Consumer Surplus?

How much is Producer Surplus (P.S.)?

How is the total external cost (TEC)?

What the Total Welfare (sum of C.S. and P.S. minus TEC)?

In perfect world,

What is the efficient output and price?

How much is the Consumer Surplus?

How much is Producer Surplus (P.S.)?

How is the total external cost (TEC)?

How much tax revenue is collected?

What the Total Welfare (sum of C.S. and P.S. minus TEC plus Tax Revenue)?

Reference no: EM131244213

How will monetary policy affect interest rates

How will monetary policy affect interest rates or exchange rates. We want to use our AD-AS model to discuss monetary policy and its effects. Who is this man. Who is this man

What is the annualized cost of this project

The Rustin Transportation Planning Board estimates the cost of upgrading a 4-mile section of 4-lane highway from public use to toll road to be $41 million now. Resurfacing and

Marketing department estimates that medicare urology visits

Your marketing department estimates that Medicare urology visits equal 5 − (1.0 × C ) + (−6.5 × T O ) + (5 × T R ) + (0.01 × Y ). Here, C denotes the Medicare copayment (now $

Wired and wireless frame typology

When you took NETI 105, you explored the "make-up" of various "wired" frame structures. Using a table format, show the similarities and differences of 802.11 frames and 802.

What will be their consumer surplus

Tim mows neighborhood lawns for extra money. Suppose that he would be willing to mow one lawn for $13 a second lawn for $18 and a third lawn for $24. If Tim offers to mow lawn

Is it possible to tell in which month you are happier

In April, eggs cost $2 per dozen, wine costs $1 per bottle, your income is $120, and you buy 50 dozen eggs. In May, eggs cost 50 cents per dozen, wine still costs $1 per bottl

Expansionary fiscal policy in order to address shortfall

Draw the AS-AD representation of an economy in a Recessionary Gap. Policymakers familiar with Keynesian Economics might attempt expansionary fiscal policy in order to address

Estimate of the arc price elasticity of demand

Angelica Pickles is manager of a Quick Copy franchise in White Plains, New York. Pickles projects that by reducing copy charges from 5¢ to 4¢ each, Quick Copy's $600-per-week

Reviews

Write a Review

 
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