User Account

All Pages

Total surplus of the market with the price ceiling

Assignment Help Microeconomics
Reference no: EM13699495

A market has a demand curve described by P=30-Q, a supply curve described by P=16+Q, and a price ceiling of 20. Calculate the Total Surplus of the market with the price ceiling?

Reference no: EM13699495

Questions Cloud

Differences between accounting profit and economic profit : Discuss the differences between accounting profit and economic profit. What does it mean when a company makes zero accounting profit? How about zero economic profit?
Identify instance where price control is used in our markets : Identify an instance where a price control is used in our markets. Why do you think this price control exists? Also discuss the possible negative effects it may have on the market
What is the industrys marginal external cost function : A perfectly competitive industry has an inverse demand for its output given by p Q =? 100, and its supply function is given by MC Q = + 30. The process of making Q also generates pollution, g, in the amount g Q = ? 0.5, and the total external cost of..
Calculate the profit-maximizing price : A pharmaceutical firm has a monopoly on a new class of vasodilator. The market demand is given by P=240-0.01*Q, and thus MR=240-0.02*Q. The monopolist's marginal cost is constant and equal to 20. Calculate the profit-maximizing price.
Total surplus of the market with the price ceiling : A market has a demand curve described by P=30-Q, a supply curve described by P=16+Q, and a price ceiling of 20. Calculate the Total Surplus of the market with the price ceiling?
Calculate the profit-maximizing production quantity : A firm has a monopoly on a new type of gaming console. The market demand is given by P=175.3-0.003*Q and thus marginal revenue is MR=175.3-0.006*Q. The monopolist's marginal cost is MC=5.2+0.001*Q. Calculate the profit-maximizing production quantity.
Discuss achievements and failures of each of these rounds : In the last half-century there have been three additional rounds of GATT/WTO negotiations. Discuss the achievements and failures of each of these rounds, and summarize.
Discuss the effect the credit market crisis : Discuss the effect the credit market crisis in the United States in 2008 had in the market for existing single-family homes. Assuming the demand for existing single-family homes is relatively inelastic, what is likely to happen to the total revenues ..
Kinds of international strategies : When companies expand into the international arena, they do so either because their home market has matured or because they see real opportunities in the foreign market. Discuss which kinds of international strategies are most appropriate for compani..

Reviews

Write a Review

Microeconomics Questions & Answers

  Cost and perfect competition1 if a perfectly competitive

cost and perfect competition1. if a perfectly competitive firm produces goods with the following technology y min 2x1

  Increased the monopoly power of cell phone providers

Regulations created some years ago allow cell phone customers to keep the same phone number even when they switch to a different provider. This change:

  What is equilibrium price and quantity of bonds in market

What is the equilibrium price and quantity of bonds in this market? What is the interest rate in this market, given your answers above?

  What are implications when the government gets involved

What are some of the cost implications of industrialization of family farms What are implications when the government gets involved What are implications for future firm size in the market as a result of the recent drought

  1 the production possibilities schedule showsa the

1. the production possibilities schedule showsa. the resources available to the economy.b. the maximum combinations of

  Demand for plastic surgery is price inelastic

Suppose that the demand for plastic surgery is price inelastic. Are the following statements true or false? Describe your answer for full credit. When the price of plastic surgery increases, the number of operations decreases

  When indifference curves are bowed inward

When indifference curves are bowed inward, the marginal rate of substitution is

  1 what types of things do you need to consider if you want

1. what types of things do you need to consider if you want to change your default electives? what resources will you

  Find the relationship between inflation and nominal

if governments know that increases in the money supply lead to inflation why do some countries increase the money

  How much should govt spend to reduce global warming damage

The government is debating whether to spend $100 billion to reduce global warming damage 100 years from now on. It is estimated that $ 800 billion of damage will be averted. A critic of the expenditure says that it would be far better to take the ..

  Cost curvessuppose a firm has a total cost functiontc 23q3

cost curvessuppose a firm has a total cost functiontc 23q3 -q2 30qa derive the mathematical expressions for the mcatc

  Included in gdp for the current year

Which of the following items would not be included in GDP for the current year?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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