homework, Microeconomics

Assignment Help:
There are six potential customers of computer games, each willing to buy only one game Consumer 1 is willing to pay $40, Consumer 2 is willing to pay $35, consumer 3 is willing to pay $30 ,Consumer 4 is willing to pay $25, Consumer 5 is willing to pay $20, Consumer 6 is willing to pay $15. Suppose the market price is $29. What is the total consumer surplus? be sure to show your work

Related Discussions:- homework

Supply of labour, use a graphical illustration to briefly describe what the...

use a graphical illustration to briefly describe what the influence of an increase in immigrants would be on the market supply of labour

Production, explain 6 factors that determine volume of production

explain 6 factors that determine volume of production

Find the equilibrium precaution, Mr. Smith can cause an accident, which ent...

Mr. Smith can cause an accident, which entails a monetary loss of $1000 to Ms. Adams. The likelihood of the accident depends on the precaution decisions by both individuals. Spe

Explain consumer sovereignty, Explain consumer sovereignty and why it might...

Explain consumer sovereignty and why it might not be that extensive in real life. Explanation of consumer sovereignty Use of S/D model to show how changes in consumption pat

Cost in the short run, Cost in the Short Run Marginal Cost (or MC) is t...

Cost in the Short Run Marginal Cost (or MC) is the cost of expanding output by one unit.  As fixed costs have no impact on marginal cost, it can be given as: Average Total

Institutionalist economics, Institutionalist Economics: A school of heterod...

Institutionalist Economics: A school of heterodox economicsthat emphasizes importance of institutional development and evolution (as opposed to ‘pure' market forces) in explaining

Subject matter of economics, Ask factor affects elasticity of demandquestio...

Ask factor affects elasticity of demandquestion #Minimum 100 words accepted#

Market supply and increase in supply, Market supply and Increase in supply:...

Market supply and Increase in supply: Market supply is the total quantity of a product that all firms in an industry are willing to offer for sale at a given market price an

How multinational companies help developing countries, Evaluate the role of...

Evaluate the role of multinational companies in helping developing countries to achieve economic growth/development. Explanation of growth; enhance in GDP per time period Ex

Write Your Message!

Captcha
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