Question
1a. Suppose the supply curves for pineapples in East Utopia and West Utopia are given as follows: ------------------------------------------------- Supply (East Utopia): P = 29 +
1a. Suppose the supply curves for pineapples in East Utopia and West Utopia are given as follows:
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Supply (East Utopia): P = 29 + 0.4QE
Supply (West Utopia): P = 2 + 1.1QW
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If the price of pineapples in Utopia is 20.4 Utopian dollars per kg, the total quantity supplied from Utopia as a whole is [Answer] kgs.
(In decimal numbers, with two decimal places, please.)
1b. Continue with the last question.If the total quantity supplied from Utopia is 329 kgs, the marginal cost of production the 329-th kg is [Answer] Utopian dollars per kg.
2a.There are two groups of consumers, A and B, with the following demand relations, respectively:
---------------------------------
Demand A: P = 160 QA
Demand B: P = 80 - QB
---------------------------------
The market supply is
P = 0.33Q
Given this information, we can compute that the market equilibrium price is [Answer].
(In decimal numbers, with two decimal places, please.)
2b. Continue with the last question. The total consumer surplus at the equilibrium is [Answer].
(In decimal numbers, with two decimal places, please.)
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