What is the consumer surplus

Assignment Help Microeconomics
Reference no: EM132137777

Question: Suppose that a student would go to 1 Blue Jays game if the price were $120, 2 Blue Jays games if the price were $80, 3 Blue Jays games if the price were $50, and 4 Blue Jays games if the price were $20. What is the consumer surplus if the price for a game is $40?

Reference no: EM132137777

Questions Cloud

Write a research paper that contains data acquisition : Discuss the following working with data steps: Data acquisition, data examination, data transformation, and data exploration.
Calculate the relative proportion of seismic forces : Calculate the base shear V for the structure - Calculate the relative proportion of seismic forces, hence shears and moments to each of the walls
Calculate the real interest rate in singapore : Suppose in Singapore the velocity of money is constant, real GDP grows by 7% per year, the stock on money grows by 10% per year, and the nominal interest rate.
Defines an equivalence relation : Mathematics- Algebraic Geometry Problem - Let K denotes an algebraically closed field - Show that defines an equivalence relation on A2\{0}
What is the consumer surplus : Suppose that a student would go to 1 Blue Jays game if the price were $120, 2 Blue Jays games if the price were $80, 3 Blue Jays games if the price were $50.
Describe security architecture : Which CISSP domain according to your session materials highlights intrusion detection and prevention systems?
Determine effect of increase in total factor productivity : Suppose that the substitution effect of an increase in the wage is always larger than the income effect. Suppose the economy is on the low tax side.
Malware can effect a mac computer : What are some ways malware can effect a mac computer? Can they be prevented?
What is unified threat management : What is Unified Threat Management (UTM) and the services it combines into one device. Does UTM holds true to the principle of defense-in-depth

Reviews

Write a Review

Microeconomics Questions & Answers

  Discuss the concept of behavioral economics

The text presents the concept of behavioral economics as being a key strategy used in the intervention of substance abuse disorders.

  Import less capital equipment from us machinery firms

Suppose the value of the Japanese yen rises 20%, but in order to maintain market share in the US, major Japanese companies decide not to raise the prices.

  Over the past 12 months the four winds novelty company firm

over the past 12 months the four winds novelty company firm has recorded its internet sales equals monthly output

  Discuss the difference between a change in demand

Discuss the difference between a change in demand and a change in quantity demanded in terms of causes and in how they appear graphically.

  How would the transaction be treated under a capital budget

Assume the government sells some of the land it currently rents out for grazing. Should the revenues received be counted as reducing the deficit? How would the transaction be treated under a capital budget?

  At the beginning of 1996 in fact he borrowed yen1000

at the start of 1996 the annual interest rate was 6 percent in the united states and 2.8 percent in japan. the exchange

  Who in the ethiopian society

Who in the Ethiopian society has the most difficult time dealing with scarcity?

  What values or patterns of values are relevant to purchase

Can enough of the people needing the product/service afford it? What values or patterns of values are relevant to purchase and use of the product/service?

  Supply and demand diagram to explain changes in price

Explain how each of the events described above, affected the world market for oil. Specifically, use a supply and demand diagram to explain changes in price and output.

  Determine the benefit-cost ratio for the proposed facility

It is anticipated that one-time renovations costing $500,000 will be carried out after 18 years. Overall benefits to the community are expected to average $220,000 per year. The facility will have no salvage value. Assuming an interest rate of 5% ..

  Explore how externalities may prevent market equilibrium

Explore how externalities may prevent market equilibrium and the various governments policies used to remedy inefficiencies in markets caused by externalities.

  What is the labor force participation rate

What is the labor force participation rate and what was the labor force participation rate in 2008? How has it changed since 2008 and what does this change imply for the state of the economy?

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