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These are questions with answers from my lecturer, therefore I know that these answers are correct, however I do not know how to work them
These are questions with answers from my lecturer, therefore I know that these answers are correct, however I do not know how to "work them out".
Evaluating the Gains and Loses from Goternmen 1) Rejer to Higure 9.11 above. If the market is in equilibrian, the connamet curplas earned by the buyer of the 1 at unit is: A) $5.00. B) 51500 . C) $2250 D) $40.00. Answer D Dift 1 Sectian:91 2) Refer to Figure 9.111 above. If the market is in equilibrium, the producer surplus earned by the seller of the Ist unit is Answer $2000. (calculate the right amount and show your calculation). Ditt 1 Section: 9.1 3) Refer to Figure 9.1.1 above. If the makket is in equilibrium, total consumer surplus is: (calculate the right amount and show your calculation). Answer 5800. Ditt 2 Section:91 4) Refer to Figure 9.1.1 above. If the market is in equitibrium, total producer surplus is: (calculate the right amount and show your calculation). Answer: 5800 . Dit:2 Section: 9.1 5) Refer to Figure 9.11 above. If the market is in equilibrium, toal consumer and producer surplus is: (calculate the right amount and show your calculation). Answer $1200. Diff 1 Section: 9.1 6) Refer to Figure 9.1.1 above. If the govemment entabliahes a price ceiling of $20, how mary wid gets will be sold? (calculate the right amount and show your calculation). Answer: 20 Dit: 1 Section: 91 7) Refer to Figure 9.1.1 above. Suppose the market is curnently in equilibriam, If the government establishen a price criling of $20 consumer muplus will: A) fall by $200 8) fall by 5300 . C) remain the rame. D) risar by 4200 E) pise by 5300 . Answer C Ditt 2 Sechora.9.1 Can someone show me the calculations that I need to get all these answers as these sort of questions will come up on my exam and I need to show my calculation.
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