What is the total consumer surplus in this market

Assignment Help Microeconomics
Reference no: EM13906929

There are 100 consumers, each of whom values a concert ticket at a unique whole number dollar amount between $1 and $100. One customer is willing to pay $1, a second is willing to pay $2, a third is willing to pay $3, and so on. An unlimited number of concert tickets are on sale for $15 each. What is the total consumer surplus in this market?

Reference no: EM13906929

Questions Cloud

Create a test to assess intelligence : Pretend that you have been contracted to create a test to assess intelligence. Think about factors you might consider and steps you might take to ensure reliability of this test. Write a description of factors you might consider and steps you mig..
How are china and india contributing to the world economy : How are China and India contributing to the world economy? Relate to current examples in the retail industry involving the Walmart (US), Falabella (Chile) or Carrefour (France)
What is the present worth of an income stream : Each of the following scenarios is independent. Utilize the appropriate future value or present value table, and calculate the requested amount. Then, if available, utilize the related function in an electronic spreadsheet (or financial calculator) t..
Return on common stockholders equity : If a company's bonds bear an interest rate of 8%, the tax rate is 30%, and the company's assets are generating an after-tax return of 7%, then the leverage would be a. Positive   b. Negative   c. Neither positive or negative d. Impossible to determin..
What is the total consumer surplus in this market : There are 100 consumers, each of whom values a concert ticket at a unique whole number dollar amount between $1 and $100. One customer is willing to pay $1, a second is willing to pay $2, a third is willing to pay $3, and so on. An unlimited numbe..
Find the esss of the given bos game : Each player in any given match can condition her action on whether she was the ?rst to suggest getting together. Assume that for any given player the probability of being the ?rst is one half. Find the ESSs of this game.
General ledger account since the acquisition : A company has notes receivable, classified as non-current, that has a fair value of $920,000 at 12/31/14 and an acquisition cost of $710,000. Management decided at the acquisition date, to use the fair value option for this recently-acquired receivab..
Prepare a production budget for both the second : Refer to information from Exercise 22 8. Each transmission requires 0.80 pounds of a key raw material.
Suitable examples using the basic operations : Briefly review Regular Expressions - the notation and the languages they represent with suitable examples using the basic operations - namely, concatenation, union , Kleene Closure.

Reviews

Write a Review

Microeconomics Questions & Answers

  Discuss the post keynesian theories of demand for money

Discuss the post Keynesian theories of demand for money

  Relationship between money supply and interest rate

What is the relationship between money supply, interest rate, and exchange rate

  Economy in a flexible exchange rate system

In a small open economy in a flexible exchange rate system with perfect capital mobility, there is complete ________ crowding-out of ________ policy.

  What is the cost to government for imposing the estate tax

What is the cost to government for imposing the estate tax and what is the cost to the taxpayer for imposing the estate tax on him?

  Monopoly to engage in price discrimination

Price discrimination is a pricing strategy whereby a firm's prices for the same or very similar goods vary for customers in different markets. This can help the firm attain more profits compared to charging a single price.

  Physicians offices supply some urgent care services

Physician’s offices supply some urgent care services (i.e., services patients seek for prompt attention but not for preservation of life or limb). Name three other providers of urgent care services. Emergency departments, urgent care clinics, and wal..

  In which type of handling system is labor cost generally

in which type of handling system is labor cost generally the highest percentage?a mechanizedb semiautomatedc automatedd

  What learned theories of international trade does

If a poor country invented a brand new product and marketed and exported to other poor countries. What learned theories of international trade does this occurrence contradict

  How did bretton woods system operate what caused its

how did the bretton woods system operate? what caused its collapse? some think the current system of managed but

  This is about unemployment rates during the depression if

this is about unemployment rates during the depression. if it started at 1.8 then raised to 25.2 what percent would

  Which countrys investment offers the highest return

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

  Welfare function what do you mean by a social welfare

what do you mean by a social welfare function? if you assume that such a function exists what properties of social

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