2. Below is a tabular data of price and quantity demand and quantity supply for banana que. Qd Qs 10 40 20 15 30 30 20 20 40 25 10 50 10 50 Using the appropriate method for the given data set, derive the following d) compute for the producer's surplus then graph e) if the price changes from P15 to P17, how much is the change in consumer's and producer's su f) what is the economic surplus? Show your solution e) if government imposed tax of P2 per unit of product in the supply side, what is the new price w and new equilibrium quantity with tax?

2. Below is a tabular data of price and quantity demand and quantity supply for banana que. Qd Qs 10 40 20 15 30 30 20 20 40 25 10 50 10 50 Using the appropriate method for the given data set, derive the following d) compute for the producer's surplus then graph e) if the price changes from P15 to P17, how much is the change in consumer's and producer's su f) what is the economic surplus? Show your solution e) if government imposed tax of P2 per unit of product in the supply side, what is the new price w and new equilibrium quantity with tax?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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