1 a.Suppose the market demand is in the following form.

Q_X= 100 - 2*P_X+ 0.1*P_Y+ 1.5*Pop

where P_Xis the price of good X, P_Yis the price of good Y, and Pop is the size of the population. And, the market supply is in the following form

Q_X= 2*P_X

1b.

Suppose P_Y= 11 and Pop = 132.We can find that the equilibrium price of X is[Answer].

(In decimal numbers, with two decimal places, please.)

Answer:

1c.

Continue from the previous question and suppose P_Y= 11 and Pop = 132.We can find that the equilibrium quantity of X is[Answer].

(In decimal numbers, with two decimal places, please.)

Answer:

1d.

Continue from the previous question and suppose P_Y= 11 and Pop = 132.We can find that the total economic surplus at the market equilibrium of X is[Answer].

(In decimal numbers, with two decimal places, please.)

Answer:

1e.

Continue from the previous question.Suppose P_Yis still 11 but there is an inflow of population that increases Pop to 264.We can find that the equilibrium price of X is[Answer].

(In decimal numbers, with two decimal places, please.)

Answer:

1f.

Continue from the previous question.Suppose P_Yis still 11 but there is an inflow of population that increases Pop to 264.We can find that the equilibrium quantity of X is[Answer].

(In decimal numbers, with two decimal places, please.)

Answer:

1g.

Continue from the previous question. Suppose P_Yis still 11 but there is an inflow of population that increases Pop to 264.We can find that the total economic surplus at the market equilibrium of X is[Answer].

(In decimal numbers, with two decimal places, please.)

Answer:

1h.

From the two equilibria we got in previous questions, we conclude that a population increase will result in[Answer]in the equilibrium price,[Answer]in the equilibrium quantity, and[Answer]in the total economic surplus to the society.

Select one:

a.a decrease; a decrease; a decrease

b.a decrease; a decrease; no change

c.a decrease; a decrease; an increase

d.an increase; an increase; an increase

e.an increase; an increase; no change

f.an increase; an increase; a decrease

Clear my choice

1i.

Continue from the previous questions.Consider the welfare of the people whooriginallyreside in the country.Before the increase in population, the total consumer surplus to them is[Answer](dollars).

(In decimal numbers, with two decimal places, please.)

Answer:

1j.

After the increase in population due to the inflow of immigrants, the total consumer surplus to the people whooriginallyreside in the country is[Answer](dollars).

(In decimal numbers, with two decimal places, please.)

Answer:

1k.

We conclude that the people whooriginallyreside in the country as a group is willing to pay up to[Answer](dollars) to lobby the government against the immigration policy.

(In decimal numbers, with two decimal places, please.)

Answer: