The next 3 questions involve the following supply and demand equations:Supply: p= q+10Demand: p = 50 – 3q11. What is the market equilibrium price and quantity?(A) p* = 10, q* = 10(В) р* %3D 20, q" %3D 10(C) p* = 20, q* = 20(D) p* = 10, q* = 2012. The government enacts a price floor of $32. What is the Total Surplus?(A) $168.(B) $152.(C) $208.(D) None of the above413.What is the Deadweight Loss?(A) $32(B) $90(C) $64(D) None of the above

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Description: The next 3 questions involve the following supply and demand equations:Supply: p= q+10Demand: p = 50 – 3q11. What is the market equilibrium price and quantity?(A) p* = 10, q* = 10(В) р* %3D 20, q" %3D 10(C) p* = 20, q* = 20(D) p* = 10, q* = 2012. Th

11) Equating the demand and supply, the equilibrium price and quantity would be found. q+10=50-3q…

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The next 3 questions involve the following supply and demand equations: Supply: p= q+10 Demand: p= 50 – 3q 11. What is the market equilibrium price and quantity? (A) p* = 10, q* = 10 (B) p* = 20, q* = 10 (C) p* = 20, q* = 20 (D) p* = 10, q* = 20 12. The government enacts a price floor of $32. What is the Total Surplus? (A) $168. (B) $152. (C) $208. (D) None of the above 4 13.What is the Deadweight Loss? (A) $32 (B) $90 (C) $64 (D) None of the above

The next 3 questions involve the following supply and demand equations: Supply: p= q+10 Demand: p= 50 – 3q 11. What is the market equilibrium price and quantity? (A) p* = 10, q* = 10 (B) p* = 20, q* = 10 (C) p* = 20, q* = 20 (D) p* = 10, q* = 20 12. The government enacts a price floor of $32. What is the Total Surplus? (A) $168. (B) $152. (C) $208. (D) None of the above 4 13.What is the Deadweight Loss? (A) $32 (B) $90 (C) $64 (D) None of the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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