Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 12, 2024

If the inverse demand function for toasters is p=80Q, what is the consumer surplus if price is $20? The consumer surplus is $ enter your

If the inverse demand function for toasters is

p=80Q,

what is the consumer surplus if price is $20?

The consumer surplus is $ enter your response here.

(round your answer to two decimal places)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Authors: Michael Parkin

11th edition

133019942, 978-0133020250, 133020258, 978-0133019940

More Books

Students also viewed these Economics questions

Question

★★★★★

For each pair of compounds, predict the one with a higher boiling point. Which compounds have zero dipole moments? (a) cis-1,2-dichloroethene or cis-1,2-dibromoethene (b) cis- or...

Answered: 1 week ago

Question

★★★★★

Attendance 2006. American League baseball games are played under the designated hitter rule, meaning that weakhitting pitchers do not come to bat. Baseball owners believe that the designated hitter...

Answered: 1 week ago

Question

★★★★★

Tell me what you know about our organization and the position.

Answered: 1 week ago

Question

★★★★★

What are the alternative forms of work cells discussed in this textbook?

Answered: 1 week ago

Question

★★★★★

You are creating a model-driven app that uses standard tables for customer records. The company uses a Microsoft SQL Server-based on-premises system for its general ledger, accounts payable, and...

Answered: 1 week ago

Question

★★★★★

XYZ Limited manufactures automobile transmissions. You are the Operations Manager and must make a decision whether to manufacture or to buy a special part. The details are as follows: ALTERNATIVE...

Answered: 1 week ago

Question

★★★★★

a. The owner invested $17,800 cash in the company. b. The company purchased supplies for $1,200 cash. c. The owner invested $11,400 of equipment in the company in exchange for more common stock. d....

Answered: 1 week ago

Question

★★★★★

Fara wants to buy a new smartphone and is willing to pay $800 based on her preferences and budget. She finds the phone on sale for $600, and she decides to purchase it. What does the difference...

Answered: 1 week ago

Question

★★★★★

( b ) Martha approaches Maria Swanepoel of Swanepoel Inc., an attorney at law practicing in the Pretoria East area to assist her with her claim for damages resulting from her dispute with Joseph. The...

Answered: 1 week ago

Question

★★★★★

As of November 1, 1999, the exchange rate between the Brazilian real and U.S. dollar is R$1.73/$. The consensus forecast for the U.S. and Brazil inflation rates for the next 1-year period is 3.3% and...

Answered: 1 week ago

Question

★★★★★

Polycorp plans to pay a dividend of $6 in one year time dividend are then expected to increase by $1 a year for 5 year after that they are expected to grow at 2%pa forever shareholders required...

Answered: 1 week ago

Question

★★★★★

350 PRICE (Dollars per unit) Y 225 X 175 W 50 Demand 12 42 54 84 QUANTITY (Units) 350 225 175 12 Demand 42 54 QUANTITY (Units)

Answered: 1 week ago

Question

★★★★★

12. Think of a situation where you felt particularly powerless. It must be a real event that you remember relatively well. Try to think back. What was it you imagined just before you felt powerless...

Answered: 1 week ago

Question

★★★★★

13. Try to imagine how you would feel if you had tackled the problem, the con-flict, the challenge, etc., that made you powerless in task 12, for example upstairs, confident, confident, calm,...

Answered: 1 week ago

Question

★★★★★

15. Ask yourself the following questions: What do you want to remember from your everyday experiences? These are the experiences that fill most of your life. They may take 9099% of your time. What do...

Answered: 1 week ago

Previous Question Next Question