Macroeconomics (Book Only)
12th Edition
ISBN: 9781285738314
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 21, Problem 12QP
To determine
Explain the reason for people to make charitable donations to religious organization rather than to gangs.
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19. (20 points in total) Suppose that the market demand curve is p = 80 - 8Qd, where p is the price per
unit and Qd is the number of units demanded per week, and the market supply curve is p = 5+7Qs,
where Q5 is the quantity supplied per week.
a.
b.
C.
d.
e.
Calculate the equilibrium price and quantity for a competitive market in which there is
no market failure.
Draw a diagram that includes the demand and supply curves, the values of the vertical-
axis intercepts, and the competitive equilibrium quantity and price. Label the curves, axes and
areas.
Calculate both the marginal willingness to pay and the total willingness to pay for the
equilibrium quantity.
Calculate both the marginal cost of the equilibrium quantity and variable cost of
producing the equilibrium quantity.
Calculate the total surplus. How is the value of total surplus related to your calculations
in parts c and d?
Please answer all parts of the question
Don't use ai to answer I will report you answer
Chapter 21 Solutions
Macroeconomics (Book Only)
Ch. 21.3 - Prob. 1STCh. 21.3 - Prob. 2STCh. 21.3 - Prob. 3STCh. 21.6 - Prob. 1STCh. 21.6 - Prob. 2STCh. 21.6 - Prob. 3STCh. 21.10 - Prob. 1STCh. 21.10 - Prob. 2STCh. 21.10 - Prob. 3STCh. 21 - Prob. 1VQP
Ch. 21 - Prob. 2VQPCh. 21 - Prob. 3VQPCh. 21 - Prob. 4VQPCh. 21 - Prob. 5VQPCh. 21 - Prob. 1QPCh. 21 - Prob. 2QPCh. 21 - Prob. 3QPCh. 21 - Prob. 4QPCh. 21 - Prob. 5QPCh. 21 - Prob. 6QPCh. 21 - Prob. 7QPCh. 21 - Prob. 8QPCh. 21 - Prob. 9QPCh. 21 - Prob. 10QPCh. 21 - Prob. 11QPCh. 21 - Prob. 12QPCh. 21 - Prob. 13QPCh. 21 - Prob. 14QPCh. 21 - Prob. 1WNGCh. 21 - Prob. 2WNG
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