GIVEN INFORMATION: Think about Anteaterville's highly competitive smoothie market. Q is the quantity (measured in the number of smoothies) and p is the price, and the supply of smoothies is given by Q = 200p and the demand for smoothies is given by Q = 1200p - 100p (measured in dollars). The equilibrium quantity in this market is 800 smoothies. The equilibrium price in this market is $ 4 per smoothie. (Please enter only numbers in the boxes, and round to the nearest whole number if necessary.) PLEASE SOLVE: Remember the perfectly competitive smoothie market from the previous question? At the competitive equilibrium you derived in previous question (and assuming there are no market failures in the smoothie market), the producer surplus in the smoothie market is $______ , the consumer surplus is $______ , the total surplus is $______ , and the deadweight loss is $________ . (Please enter only numbers in the boxes, and round to the nearest whole number if necessary.)
GIVEN INFORMATION:
Think about Anteaterville's highly competitive smoothie market. Q is the quantity (measured in the number of smoothies) and p is the
The
PLEASE SOLVE:
Remember the
At the competitive equilibrium you derived in previous question (and assuming there are no market failures in the smoothie market), the
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