Maria asked in Social ScienceEconomics · 7 years ago

Economics Question pls help !!?

1Given the demand and supply for water dispensers:

Qd = 740 - 17 P

Qs = -110 + 16 P

What is the Consumer's Surplus?

What is the Producer's Surplus?

2.OUTPUT TOTAL COST

0 50

1 59

2 67

3 74

4 80

5 87

6 95

Part 1: The TVC of producing 4 units of output is

Part 2: The AFC of producing 6 units of output is:

Part 3: The marginal cost of producing the fifth unit of output is:

Part 4: The ATC of producing 5 units of output is:

1 Answer

Relevance
  • Anonymous
    7 years ago
    Favorite Answer

    In equilibrium, Qd=Qs, 740-17P=-110+16P

    P=25.76,Qd=Qs=302.

    The highest price for consumer=43.53,the lowest price for producer=6.88

    Consumer surplus=1/2(43.53-25.76) x 302=2,683.27.

    Producer surplus= 1/2(25.76-6.88) x 302=2,850.88.

    1 TVC=80-50=30

    2. AFC= 50/6=8.33

    3. MC=87-80=7

    4. 87/5=17.4

    I won't give my bet.

    • Commenter avatarLogin to reply the answers
Still have questions? Get your answers by asking now.