Producer surplus and social welfare in the market

Reference no: EM13334186

Consider the perfectly competitive market with the demand function Q(p) = 1-p. Every firm has the cost function C(Q)= 1/128 + Q^2/2.

a) What are the long run equilibrium price, quantity of a single firm and the industry output? How many firms are in the market?

b) What are the consumer surplus, producer surplus, and social welfare in the market.

Reference no: EM13334186

Questions Cloud

Compute rh° for the reaction : Calculate ?rH° for the reaction 2C(s) + 3 H2(g) + ½ O2(g) ? C2H5OH(l) given the information below. C(s) + O2(g) ? CO2(g) ?rH° = -393.5 kJ/mol-rxn 2 H2(g) + O2(g) ? 2 H2O(l) ?rH° = -571.6 kJ/mol-rxn C2H5OH(l) + 3 O2(g) ? 2 CO2(g) + 3 H2O(l) ?rH° = ..

Write a three-page summary a successful penetration test : Using MS Word, write a three-page summary describing a successful penetration test. What penetration tools and techniques do you feel would be needed in a successful penetration test?

Find what is the size of each deposit needed to make : You estimate that you will need $840 thousand in 30 years to buy some cybernetic body enhancements, including infrared vision, retractable claws, and expanded brain storage capacity.

What is the tension in the supporting chain : A single chain supports a pulley whose weight is 40 N. Two identical 80-N weights are then connected with a cord that passes over the pulley

Producer surplus and social welfare in the market : What are the long run equilibrium price, quantity of a single firm and the industry output? How many firms are in the market? What are the consumer surplus, producer surplus, and social welfare in the market.

Compute the angular momentum of the system : A particle of mass 0.500 kg is attached to the 100-cm mark of a meter stick of mass 0.150 kg. Calculate the angular momentum of the system when the stick is pivoted about an axis perpendicular to the table through the 50.0-cm mark

Determine what is the estimated value in millions at t : Barnette Inc.'s free cash flows are expected to be unstable during the next few years while the company undergoes restructuring. However, FCF is expected to be $50 million in Year 5, i.e., FCF at t = 5 equals $50 million

Determine the struck balls velocity after the collision : A billiard ball moving at 6.00 m/s strikes a stationary ball of the same mass. After the collision, the first ball moves at 5.12 m/s at an angle of 31.5° with respect to the original line of motion. find the struck ball's velocity after the collisi..

What are the major forms of immunity and privilege : What are the major forms of immunity and privilege? How might they affect post-arrest proceedings?

User Account

All Pages