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Please help me to answer 1-16 below! : Demand: P = 9875-3Q Supply: P = 2300 + 4Q 1. Draw the graph for items 2-7
Please help me to answer 1-16 below! :
Demand: P = 9875-3Q Supply: P = 2300 + 4Q 1. Draw the graph for items 2-7 2. eQd/s; ep 3. CS 4. PS 5. TB World Price for Exportation is P3100 6. Qd in pw 7. Qs in pw 8. Value of importation in Peso Export Tax of P750 Draw the graph for items 8-16 9. Odt 10. Qst 11. CSt (CS with tax) 12. PSt (PS with Tax) 13. Total Value of CS 14. Tax Revenue 15. DWL1 16. DWL2Demand: P = 3000 - 3Q Supply: P = 1000 + 3Q eP = 3000 - 3(333.33) = 2000.01 eQ = 3000 - 1000 = 3Q + 3Q = 2000 = 6Q S eQ = 333.33 CS = 1/2 bh = .5 (3000-2000-01)(333.33) = 166,663.33 3000 Consumer Surplus (CS) PS = 1/2 bh = .5 (2000-01-1000)(333.33) 2000.01 = 166,666.67 Producer Surplus (PS) Total Benefit (TB)= CS+PS 1000 = 166,663.33 + 166,666.67 = 333,330 333-33 D\fDemand: P = 3000 - 3Q Supply: P = 1000 + 3Q Subsidy = P 500 New Qs = 500 + 3Q S (MC) New Qs: 1300 = 500 +3Q 1300 - 500 = 3Q Ss 3Q = 800 Q = 266.67 3000 Ps(subsidy) = 1000 + 3Q = 1000 + 3(266.67) = 1800.01 Ps = 1800.01 Pw= 1300 1000 500 Qs = 100 Qd = 566.67 D 266.67Step by Step Solution
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