FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help Suppose that In a perfectly competitive market, the demand for Frisbees is given by Q-200-2P and the supply by Q=2P. What is the

image text in transcribed

Please help

image text in transcribed
Suppose that In a perfectly competitive market, the demand for Frisbees is given by Q-200-2P and the supply by Q=2P. What is the consumer surplus, producer surplus and welfare (total surplus), respectively at the equilibrium? 3000, 6000, 9000 3000, 3000, 6000 2500, 5000, 7500 2500, 2500, 5000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_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

Microeconomics

Authors: Robert Pindyck, Daniel Rubinfeld

8th edition

978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123

More Books

Students also viewed these Economics questions

Question

★★★★★
In an investigation of the possible influence of dietary chromium on diabetic symptoms, 14 rats were fed a low-chromium diet and 10 were fed a normal diet. One response variable was activity of the...

Answered: 1 week ago

Question

★★★★★
A pressure-fed bearing has a journal diameter of 50.00 mm with a unilateral tolerance of 0.05 mm. The bushing bore diameter is 50.084 mm with a unilateral tolerance of 0.10 mm. The length of the...

Answered: 1 week ago

Question

★★★★★
=+b) Steele, Bass, and Crook tried to replicate the original study. The subjects were 125 college students who participated in the experiment for course credit. Subjects first took the test. Then...

Answered: 1 week ago

Question

★★★★★
The following information relates to Hudson City for its scal year ended December 31, 2014. On January 31, 2014, the city purchased as an investment for its debt service fund a fteen-year, 6...

Answered: 1 week ago

Question

★★★★★
Question 1 1 pts Time Elapsed: Attempt due: Sep O Minutes, 53 What is the Sharpe Ratio of a portfolio with an expected return of 0.09 and a standard deviation of 0.36, if the risk free rate is 0.01...

Answered: 1 week ago

Question

★★★★★
Is this Post Closing Tnal Balance Corect. DR CR SS $30 |Account CASH (AR INVENTORY ACCRUED LIABILITIES LOAN PAYABLE COMMON STOCK RETAINED EARNINGS REVENUE EXPENSES TOTAL DR & CR S12 $20 $3 $3 $23 $8...

Answered: 1 week ago

Question

★★★★★
Olney LLC only purchased one asset this year. Olney LLC placed in service on July 19, 2023, machinery and equipment (seven-year property) with a basis of $1,330,000. Assume that Olney has sufficient...

Answered: 1 week ago

Question

★★★★★
A marketing company needs to decide how much time to allocate between radio and television advertising during the next month. The manager has determined that at least 80% of the time should be...

Answered: 1 week ago

Question

★★★★★
Melany is a behavior technician that is teaching their client how to identify various household items. If the supervising Board Certified Behavior Analyst (BCBA) wants to measure that the program is...

Answered: 1 week ago

Question

★★★★★
Economic research has identified a trend exhibited by one in six Britons of hiding cash in their homes instead of investing it. This is termed the "Biscuit Tin Economy." It is estimated that $3.5...

Answered: 1 week ago

Question

★★★★★
How does Purchasing bring value to a organization? When thinking about the sort ( reject nothing to need), set in order ( tidy up), shine ( keep workplace up ) , standardize ( make neatness a rule),...

Answered: 1 week ago

Question

★★★★★
5. [-/3.54 Points] DETAILS BBUNDERSTAT12 2. TB.024. For the scores shown in the following stem and leaf display, how many people had scores in the 70s? 9 374 8 945 7 7042 6 68 5 14 O 2 O 3 6. [-/3.54...

Answered: 1 week ago

Question

★★★★★
2. What information is conveyed through a particular type of metaphor? The answer to the question gives us insight into what code the person using the metaphor uses, and thus an insight into how...

Answered: 1 week ago

Question

★★★★★
2. Give six examples that silence (not saying anything) or not responding can be very informative to the other party.

Answered: 1 week ago

Question

★★★★★
1. Discuss the following statements: a) The smaller the unit of measurement used to measure a coastline, the longer the coastline becomes. b) The interpretation is different from what is interpreted....

Answered: 1 week ago

Previous Question Next Question