What is the value of consumer surplus

Assignment Help Business Economics

Reference no: EM13894102

For good A, the demand curve is given by Qd = 40 – P. The supply curve is given by Qs = P. When the market is at equilibrium, what is the value of consumer surplus? (Hint: To solve this problem, you will need to calculate the area of a triangle.)

Reference no: EM13894102

Questions Cloud

Discuss what would happen to the health production function : Discuss what would happen to the health production function if there was a total ban on cigarettes in the U.S. What would happen to the total product with respect to medical care, as well as the marginal product? Explain the assumptions underlying th..

What was the projects present worth and annual worth : Katie's project has a five-year term, a first cost, no salvage value, and annual savings of $20 000 per year. After doing present worth and annual worth calculations with a 15% interest rate, Katie notices that the calculated annual worth for the pro..

Deal with monopolists on a case-by-case basis : Many economists agree that government should deal with monopolists on a case-by-case basis. Policy options include the following, except:

Allocative efficiency-type of market structures : Allocative efficiency (where P = MC) is most likely to occur under which of the following type of market structures?

What is the value of consumer surplus : For good A, the demand curve is given by Qd = 40 – P. The supply curve is given by Qs = P. When the market is at equilibrium, what is the value of consumer surplus? (Hint: To solve this problem, you will need to calculate the area of a triangle.)

Main conclusion from walt rostows stage theory : A main conclusion from Walt Rostow's stage theory was that

How do strategic planning and budgeting differ : Develop quantitative skills necessary to read, interpret and perform the calculations for the accounting reports involved in cost control and profit planning - How do strategic planning, long range planning and budgeting differ?

What behaviors were being driven by toyota metrics? : What behaviors were being driven by their metrics?

Differences between six sigma and lean principles? : What are the differences between Six Sigma and Lean Principles?

User Account

All Pages