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35. When prices drop in response to a decline in demand for an increasing cost industry producer surplus will increase but rents may decrease. a. b. C. d. rent earned by elastically supplied inputs will decline by more than rent earned by inelastically supplied inputs. rent earned by elastically supplied inputs will decline by less than rent earned by inelastically supplied inputs. both producer surplus and rents will increase.

35. When prices drop in response to a decline in demand for an increasing cost industry producer surplus will increase but rents may decrease. a. b. C. d. rent earned by elastically supplied inputs will decline by more than rent earned by inelastically supplied inputs. rent earned by elastically supplied inputs will decline by less than rent earned by inelastically supplied inputs. both producer surplus and rents will increase.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Typed plz and asap thanks please answer this question according to the note which is in  end of the question and answer all parts i will upvote and share positive feedback thanks

35. When prices drop in response to a decline in demand for an increasing cost industry producer surplus will increase but rents may decrease. a. b. C. d. a. ANSWER: b. C. 36. If quantity supplied is either greater or less than the equilibrium quantity, then all of the following are true except: total loss of surplus will depend on the shape of the demand and supply curves. d. rent earned by elastically supplied inputs will decline by more than rent earned by inelastically supplied inputs. a. rent earned by elastically supplied inputs will decline by less than rent earned by inelastically supplied inputs. b. both producer surplus and rents will increase. C. d. ANSWER: с the resulting loss of consumer surplus will depend on the price of the good. 16. Suppose domestic beef producers face demand of Qp = 1000 - 5P. Suppose the Chinese acquire a taste for U.S. beef such that their demand is Qp = 500 - 5P. Market demand is now total loss of surplus will depend on the price of the good. there will be an inefficient allocation of resources. 1000 10P for all P 1500 10P for all P 1500 - 5P for all P 1000 5P for P > 100 and 1500 - 10P for P < 100 ANSWER: d Notes: Please explain answers already given above for question # 35, 36 and 16 in this order. Show all the steps. Do not copy from solutions already posted. Thanks.
Transcribed Image Text:35. When prices drop in response to a decline in demand for an increasing cost industry producer surplus will increase but rents may decrease. a. b. C. d. a. ANSWER: b. C. 36. If quantity supplied is either greater or less than the equilibrium quantity, then all of the following are true except: total loss of surplus will depend on the shape of the demand and supply curves. d. rent earned by elastically supplied inputs will decline by more than rent earned by inelastically supplied inputs. a. rent earned by elastically supplied inputs will decline by less than rent earned by inelastically supplied inputs. b. both producer surplus and rents will increase. C. d. ANSWER: с the resulting loss of consumer surplus will depend on the price of the good. 16. Suppose domestic beef producers face demand of Qp = 1000 - 5P. Suppose the Chinese acquire a taste for U.S. beef such that their demand is Qp = 500 - 5P. Market demand is now total loss of surplus will depend on the price of the good. there will be an inefficient allocation of resources. 1000 10P for all P 1500 10P for all P 1500 - 5P for all P 1000 5P for P > 100 and 1500 - 10P for P < 100 ANSWER: d Notes: Please explain answers already given above for question # 35, 36 and 16 in this order. Show all the steps. Do not copy from solutions already posted. Thanks.
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