Question 105045403530252015 -10500 10 20 30 40 50 60 70 80 90 100QuantityConsider the figure shown. What is the consumer surplus when the P-$15?Selected Answer:Correct Answer:Answer range +/-0.1 (1224.9-1225.1)4901,225Question 11.Q Search

The given demand curve is shown below. The price line at P=$15 is shown in this diagram.Consumer…

Answered: x 84 Price 50 45 40 35 30 25 20 15-- 10…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Based from the table above, derive the demand price elasticity when price is at Php. 4 ? Based from the demand price elasticity when price is at Php. 4, what is the best price decision to take? a.Increase b.Decrease c.Retain Based from the table above, what is the total revenue when price is at Php. 4?
Co. XYZ manufactures a productand sells it for $8 per unit. Her fixedcosts are $5,000 and her variablecost per unit is given by the equationCalculate the equilibrium quantity qalgebraically. 2.444 (X)-2200 A. (q-800) B. q=900 C. (q 650) D. None of the above In the previous problem (27), calculate the amount ofequilibrium Total Income. A. 4,500 B.$3,000 C. $7,200 D. $9,000 In the above problem (27), calculate thebreak-even Total Cost amount. A. 4,500 B. $3,000 C. $9,200 D. 7,200 In the previous problem (27)determine the profit when q-1800.modes of A. $4,500 B. 5,000 C.$6,000 D. 7,000 In the previous problem (27), determine the gain when q-450. A. $2,500 B. -$2,500 C.$6,000 D. -$4,500 In the aboveproblem (27), find the required output (q), to make a profit of$10,000. A. 3,000 B. 4,000 C. 2,500D. 2,700
M8
Assuming a $9 per unit subsidy is implemented, the new price to the buyers will be $______. a) 12 b) 14 c) 16 d) 19 e) 21 f) 22.5 g) 45 h 66 i) 82.5 j) 148.5 k) 171
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Advanced analysis the demand for commodity X is represented by the equation P equals 100 minus 2Q and supply by the equation P equals 10+ 4Q the equilibrium price is what
Suppose that the supply and demand schedules for a local electric utility are as follows:Price 17 16 15 14 13 12 11Quantity supplied 9 7 5 3 1 - -Quantity demanded 3 4 5 6 7 8 9The price is in cents per kilowatt hour (kWh), and the quantity is millions of kilowatt hours. The utilitydoes not operate at prices less than 13 cents per kWh.(a) Using graph paper and a ruler, or a computer spreadsheet or presentation program, carefully graphand label the supply curve for electricity.(b) On the same graph, draw and label the demand curve for electricity.(c) What is the equilibrium price of electricity? The equilibrium quantity? Label this point on yourgraph.(d) At a price of 17 cents per kWh, what is the quantity supplied? What is the quantity demanded? Whatis the relationship between quantity supplied and quantity demanded? What term do economists useto describe this situation?(e) At a price of 14 cents per kWh, what is the relationship between quantity supplied and quantitydemanded? What…
Q6 The demand and supply functions for two interdependent commodities are given by: Qp, = 120 – 2P, + P;; Qs, = -7 + 7P, Qp, = 168 + 3P, – 7P;; Qs, = -3 + 20P, %3D (a) Explain whether these goods are complementary or substitutable. (b) Determine the equilibrium price and quantity. (c) The government decides to provide a subsidy of $4 on each unit of good 1 only. What effect does this subsidy have on the equilibrium prices of each good?
Isnt the price to 2 and 3 34 and 45 respectively.
What is the total surplus : Price 110 - Supply 100 a) 800 b) 1000 c) 1500 d) 2000 e) 2500 f) 3500 g) 5000 90 80 70 60- Demand 50 45 40 + 30 20 10 ++++++ 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Duantity
a) 1,13b) 0,13c) -0,13d) -1,13

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x 84 Price 50 45 40 35 30 25 20 15-- 10 5 0 0 10 20 30 40 50 60 70 80 90 100 Quantity Consider the figure shown. What is the consumer surplus when the P-$15? Selected Answer: Correct Answer: Answer range +/-0.1 (1224.9-1225.1) 490 1,225