TTTQuantity DemandedQuantity SuppliedPrice Per UnitPer YearPer Year2,0001,8001,6001,4001,2001,000$5103001560020900251,2001,50030Refer to the above table. A surplus of 500 units will occur when the price is:a) $10 per unitb) $15 per unitc) $20 per unitd) $30 per unit

Given : The table showing different quantity demanded and quantity supplied at each level of prices…

Answered: TTT Quantity Demanded Per Year Quantity…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Refer to the Figure. If the government offers a $20 subsidy on the production of this good, what will be the new consumer surplus? 40 35 30 25 20 15 10 5 +++ 10 15 20 25 30 35 Quantity (The blue S refers to the upward sloping blue line) (a) $125 (b) $200 (c) $625 (d) None of the above. Price
Price per Constant- Quality Unit $1.00 2.00 3.00 4.00 5.00 Quantity Demanded of Constant-Quality Units per Year 1,000 800 600 400 200 According to the above table, at a price of $1 per unit, which of the following would exist? A) a surplus of 200 units Quantity Supplied of Constant-Quality Units per Year 200 400 600 800 1,000 OB) a shortage of 200 units OC C) a shortage of 800 units ⒸD) a surplus of 800 units
Consider the market for good x for which there is one firm controlling the market.D(q)=165-10qMC(q)=5q+15MR(q)=165-20qC(q)=2.5q^2+15q+8 (a) Find the point of equilibrium. (b) How many units must the firm produce and sell to maximize its profits? (c) What will be the price the firm will charge to consumers?
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33 1 36 39 Bushels Demanded per Month 45 50 56 61 67 B) 10. Price per Bushel $5 4 3 2 1 C) 67. OD) 61. Bushels Supplied per Month 77 73 68 If the price in this market was set at $1 by the government (price ceiling), then the number of bushels traded would be A) 57. 61 57
B) $11,250,000 150 Ⓒ$15,750,000 (D) $11,000,000 130 110 90 70 50 Ford Field Capacity is 65,000 10000 30000 MC 50000 70000 MRL DL DH MRL and DL are for low-demand games. MRH and DH are for high-demand games. Based on the graph above, what is the total revenue for both games (high and low demand games) if the price is set at the high- demand price level? A $12,500,000 MRH
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TTT Quantity Demanded Per Year Quantity Supplied Per Year Price Per Unit $5 2,000 1,800 1,600 1,400 1,200 1,000 10 300 15 600 20 900 25 1,200 1,500 30 Refer to the above table. A surplus of 500 units will occur when the price is: a) $10 per unit O b) $15 per unit c) $20 per unit O d) $30 per unit