Please use the following graph to answer the question.1918171615141312111090FSupply+Demand56891011Final Graph2, described in the Final Graph2 documentWhat is the consumer surplus equal to?12.5251632AQuantity12

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Answered: Please use the following graph to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Read the following article: https://techcrunch.com/2021/02/12/will-ride-hailing-profits-ever-come/ then answer the following questions. 1. The article notes Uber had never been profitable, yet at the time Uber had a market cap above $90 billion. What gives? 2. Uber lost approximately $7 billion in accounting profits in 2020. Is Uber’s producer surplus above or below this amount? Is Uber's economic profit above or below this amount? Explain.…
USE TABLE #1: The calculation you used to find the producer surplus for the efficient market for electric automobiles is 1/2 x ($ ____________ - $__________ ) x ( _____ - ________ ). (Remember to use a comma, if a comma is needed and to include the decimal point and two numbers to the right of the decimal point).
The screenshot shows a graph market for movies at equilibrium: A) Calculate Consumer, producer, and total surplus. b) Suppose in response to public outcry the government imposed a price ceiling of $8 in this market. Explain the impact on the total surplus and market efficiency.
1. Suppose the market demand is described as P = 15 - Qd: , while the market supply function is: P = 3 + Qs/11. Suppose the current market is at equilibrium. What is the producer surplus? (Hint: You need to calculate market equilibrium price and equilibrium quantity.) 11 8 6. 5.5 What is the total surplus? 44 60.5 66 72.5
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Ryan would be willing to pay $1 for a lollipop. Sarah would be willing to pay $0.50. The price of the lollipop is $0.75. What is Ryan and Sarah's combined consumer surplus? a. $0 b. $0.25 c. $0.50 d. $0.75 Can someone please explain to me why the correct answer here is $0.25? I did the calculations and i keep getting $0 the follwing is my calculations
1.2 Consider the following customers of a Japanese sushi restaurant. Their total benefit (TB) measured in terms of the maximum amount of money they are willing to pay for n dishes are given below. Dish of sushi 0 1 2 3 4 5 6 7 8 Customer A 0 60 90 Total Benefit ($) 115 125 120 110 95 70 Customer B 0 30 50 60 55 50 40 25 5 As postulated in economics, customers are maximizing their economic surpluses. One can decide not to dine in this Japanese restaurant and can get zero economic surplus. (a) The sushi restaurant is now charging customers $20 per dish. How many dishes do these two customers choose to buy under this pricing arrangement respectively? Use both total and marginal approach to solve the problem. Show your steps. (b) Now, the sushi restaurant changes its pricing policy. Now they charge each customer $100 and let them order as many as they want. Will the customers continue to dine in this restaurant? If so, how many dishes would they choose to buy? Again, solve this using both…
Suppose the following graph shows the demand for, and supply of, apartments in New York City. Use the black point (plus symbol) to indicate the equilibrium monthly rent and quantity of apartments in the absence of price controls. Then use the green point (triangle symbol) to fill the area representing consumers' surplus, and use the purple point (diamond symbol) to fill the area representing producers' surplus. MONTHLY RENT (Dollars per apartment) 2800 2600 2400 2200 2000 1800 0 Demand Supply 0.8 3.2 QUANTITY OF APARTMENTS (Millions per month) 1.6 2.4 4.0 Equilibrium A CS PS ?

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Please use the following graph to answer the question. 19 18 17 16 15 14 13 12 11 10 9 0 F Supply + Demand 5 6 8 9 10 11 Final Graph2, described in the Final Graph2 document What is the consumer surplus equal to? 12.5 25 16 32 A Quantity 12