Create an o riginal graph in equilibrium like the one in the last problem. Label everything, including the letters that would correspond to CS, PS, etc. Fooo A... 30-00 20.00 Price Pot 0.00- 5 S 0.00 10,00 2.00 30.00 Quantity ix. original consumer Surplus? k. original producer Surplus? Xi. Total Market Surplus? équilibrium In equilibrium what are the letters and the total dollar amounts that correspond to the area for the... xii. New Consumer Surplus? xiii. New Producer Surplus? 40.00 Xiv. Area that was transferred? XV. Dead weight Loss? Xvi. Remaining Surplus? 50.00 Assume an effective quota has been placed on the market changing the quantity by 2,000 units. Show what happens when an effective price floor is placed on this market. what are the letters and the total dollar amounts that now correspond to the...

Create an o riginal graph in equilibrium like the one in the last problem. Label everything, including the letters that would correspond to CS, PS, etc. Fooo A... 30-00 20.00 Price Pot 0.00- 5 S 0.00 10,00 2.00 30.00 Quantity ix. original consumer Surplus? k. original producer Surplus? Xi. Total Market Surplus? équilibrium In equilibrium what are the letters and the total dollar amounts that correspond to the area for the... xii. New Consumer Surplus? xiii. New Producer Surplus? 40.00 Xiv. Area that was transferred? XV. Dead weight Loss? Xvi. Remaining Surplus? 50.00 Assume an effective quota has been placed on the market changing the quantity by 2,000 units. Show what happens when an effective price floor is placed on this market. what are the letters and the total dollar amounts that now correspond to the...

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please show all work thanks A.) According to this graph, how much is the consumer surplus when price is set at equilibrium (P = $8)? (use the area of triangle: Base x Height x 1⁄2) B.) According to this graph, how much is the producer surplus when price is equal to its equilibrium level (P=$8)? (use the area of triangle: Base x Height x 1⁄2) C.) In the graph, how much is deadweight loss at a price of P =$8 (equilibrium)?
Main Answer the following questions based on the graph that represents JR's weekly demand for ribs at Judy's Rib Shack. a. At equilibrium price, how many ribs would JR be willing to purchase? b. How much is JR willing to pay for 20 ribs? c. How much would JR's consumer surplus be at the equilibrium price? d. At the equilibrium price, how many ribs would Judy be willing to sell? e. How much must the price of ribs be for Judy to supply 20 ribs to the market? f. At the equilibrium price, what is total surplus in the market? g. If the price of ribs rose to $10, what would happen to JR's consumer surplus? h. If the price of ribs fell to $5, what would happen to Judy's producer surplus? i. Explain why the graph shown verifies the fact that the market equilibrium (quantity) maximizes the sum of producer and consumer surplus. Specifically detail what happens at price above and below equilibrium price.
Plz explain all option ......you will not explain all option then I will give you down upvote...
Please no written by hand solutions Part 2 Assume the market price for tangerines is $18.00 per bushel. At the market price, tangerine growers are willing to supply a quantity of 12,000 bushels per week. The quantity supplied drops to zero when the price falls to $5.00 per bushel. Construct a graph showing this data, calculate the total producer surplus in the market for tangerines, and show the total producer surplus on the graph.
Figure 8-1 Price Equilibrium Price с a. B+CX b. A + B C. A+ D d. C Figure 8-2 D Equilibrium Quantity Refer to Figure 8-1. When the market is in equilibrium, what area represents producer surplus? ° D Quantity
Don't use Ai
Figure 7-5 Price P₁ B C a. D b. AX O OC. B Od. C D Refer to Figure 7-5. What area represents producer surplus when the price is P1? Quantity
Price 27.5 CHOKRESE DEDELS 85 80 75 70 65 60 55 50 45 40 35 30 25 20 15 10 5 Supply Demand 5 10 15 20 25 30 35 40 45 50 55 60 65 70 Quantity Refer to the figure. When the price falls from $45 to $35, consumer surplus increases by $100 from new consumers entering the market. O increases by $50 from new consumers entering the market. increases by $50 from consumers who were already buying the good now paying a lower price. decreases by $50 from consumers who were already buying the good now paying a lower price.
The graph shows the market for hamburgers, and the consumer surplus and producer surplus. What is total surplus? Total surplus is $ If the quantity demanded of hamburgers decreases by 80 an hour at each price, the demand curve shifts leftward from D, to D₁. Draw a point at the new equilibrium price and equilibrium quantity. Draw a shape to show the new producer surplus and labelit PS. Draw a shape to show the new consumer surplus and label it CS. By how much does total surplus change when demand decreases? Total surplus by $. 0 9.00 8.00- 7.00- 6.00- 5.00- 4.00- 3.00 2.00 1.00- 0.00 Price (dollars per hamburger) 0 20 9.00 8.00 7.00- 6.00- 5.00- 4.00- 3.00 2.00 S 1.00 0.00- Price (dollars per hamburger) 0 D₁ Do 40 60 80 100 120 140 160 180 Quantity (hamburgers per hour) S D 20 40 60 80 100 120 140 160 180 Quantity (hamburgers per hour) Q Q Q ✔ >>> Draw only the objects specified in the question.
11. The figure illustrates the competitive market for cell phones. Price (dollars per cell phone) 60.00 45.00 30.00 15.00 50 D S 100 150 200 Quantity (cell phones per month) a. What are the equilibrium price and equilibrium quantity of cell phones? b. Shade in and label the consumer surplus at the competitive equilibrium. c. Shade in and label the producer surplus at the competitive equilibrium. d. Calculate total surplus at the competitive equilibrium. e. Is the competitive market for cell phones efficient?
2. 3-5: Attaining Market Equilibrium *3* The Wall Street Journal of March 20, 2020, reported on the "large surplus of oil" as there is not enough storage capacity to hold the refined oil. Assuming the price of oil is set by competitive market forces, which of the following sequence of events accurately describes how the surplus of oil would be eliminated? As price decreases, the: Quantity demanded decreases, quantity supplied increases, and a new equilibrium will be reached. O Quantity demanded increases, quantity supplied increases, and a new equilibrium will be reached. O Demand decreases, supply increases, and a new equilibrium will be reached. O Demand increases, supply decreases, and a new equilibrium will be reached. O Quantity demanded increases, quantity supplied decreases, and a new equilibrium will be reached.
3 and 4 please. Thank you