Suppose the demand for football tickets at a local college is                                                   QD=60,000−500P   and the supply of tickets is                                                   QS=20,000. Part 2 The market equilibrium price is ​$8080 and the equilibrium quantity is 2000020000 tickets. ​(Enter your responses as whole​ numbers.) Part 3 Total economic surplus in this market is ​$enter your response here. ​(Enter your response as a whole​ number.)

Q: Using the graph above, at the equilibrium (where the supply and demand lines intersect) in this…

A: Consumer surplus = Maximum willingess to pay - Actual price paid = Area lying betwen demand curve…

Q: Price 240 160 Supply 140 120 100 80 60 Demand Quantity 16 24 32

A: In the above diagram, equilibrium is achieved at a point where demand is equal to the supply.

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A:

Q: 04. Assuming this market is at equilibrium, what is the "consumer's surplus"?     a) $16     b)…

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A: Diagrammatically consumer surplus is given by the formula - CS = 1/2 × base × height

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A: “Since you have posted multiple questions with multiple sub parts, we will provide the solution only…

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Q: 10. Total economic surplus The following graph plots the supply and demand curves in the market for…

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A: Consumer surplus is the area above the price line and below the demand curve.

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A: Total Surplus refers to the addition of consumer and producer surplus.

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Q: The following relations describe the supply and demand for posters. QD = 65,000 - 10,000P and QS =…

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Q: Calculate the economic surplus in the market represented by the graph.

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Q: Economic surplus at 8 million hours: $ b. Now, suppose that the actual quantity of childcare hours…

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Q: Look at the tables below. Maximum Price Minimum Person Person Willing to Pay Acceptable Price Bob…

A: * SOLUTION :-  (17) Asp per guidelines I answered first three sub parts only please repost other…

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Q: Below is the given data : 1: P=16-4Q1 2: P=16-2Q1 3,4: P=16-4Q1 a. graph the market demand curve…

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Q: A surplus occurs when: more people want to buy a good than want to sell it.

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Q: Suppose there is an early freeze in California that reduces the size of the lemon crop. As the price…

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Q: Based on this graph,Calculate the consumer surplus from 500 pairs of shoes?

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Q: PRICE 20 18 16 14 12 10 8 6 4 2 Demand. Supply... 2 4 6 8 10 12 14 16 18 20 QUANTITY Refer to Figure…

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Q: If your willingness to pay for a coffee is 35 dirhams, and the price is 20 dirhams. What is your…

A: Consumer surplus is an economic measure of the benefits received by consumers as a result of market…

Q: Lesson 6- Individual and Market Demand Question 2

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Q: PRICE [Dolars per laptop) The following diagram shows supply and demand in the market for laptops.…

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Q: 8. Consider the market for the Mona Lisa painting given by the following demand and supply curves:…

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