Use the black point (plus symbol) to indicate the equilibrium price and quantity of VR headsets. Then use the green po area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. 350 PRICE (Colars per headset) 315 200 246 210 175 140 105 70 35 0 Demand Supply 0 15 130 195 260 325 390 455 520 585 650 QUANTITY (Millions of headsets) Total surplus in this market is S million. + Equilibrium Consumer Surplus Producer Surplus
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- In a market which demand and supply curves are shown below: Price ($/hour) 36- 32 28- 24 20- 16 12- 8- 4- 0 Demand Supply 1000 2000 3000 4000 5000 6000 7000 Quantity (units/day) a) Calculate the consumer surplus for the market. (If necessary round your answer to the nearest whole number.) Consumer Surplus = $0 b) Calculate the producer surplus for the market. (If necessary round your answer to the nearest whole number.) Producer Surplus = $0Price ($) 15 14 13 12 11 10 9 S 8 D 7654321 0 10 20 30 40 50 60 70 80 90 Quantity Assume the market depicted in the graph is in equilibrium. What is total surplus?This is the weekly market for Tacos at Jake Paul's Taco Stand. If the price of a taco is $2, consumer surplus will equal approximately: Price $4.00 3.60 3.20 2.80 2.40 2.00 160 120 0.80 0.40 100 200 300 400 500 600 700 800 Quantity (per week) $450 $240 $650 $400 OO0 O
- The table shows the demand and supply schedules for on-campus housing. If the college puts a rent ceiling on rooms of $650 a month, rent is $ number of rooms rented is. The on-campus housing market is V efficient inefficient and the $ Rent (dollars per month) 500 550 600 650 700 750 Quantity demanded 2,500 2,250 2,000 1,750 1,500 1,250 (rooms) Quantity supplied 2,250 2,250 2,250 2,250 2,250 2,250 NextUse the black point (plus symbol) to indicate the equilibrium price and quantity of VR headsets. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. PRICE (Dollars per headset) #22 223 22 400 360 320 280 240 160 120 40 0 Demand 0 Supply 75 150 225 200 375 450 525 600 675 QUANTITY (Milions of headsets) Total surplus in this market is 5 750 million. Equilibrium A Consumer Surplus • Producer SurplusBased on the figure below, consumer surplus is $0 when price is greater than or equal to $ Price ($) 16 543210 15 14 13 12 11 10 9 4N31SRL86 5 2 0 S Quantity D 10 20 30 40 50 60 70 80 90 100
- Assume that the actual price of the tv is 2096 lower than what you are willing to pay. Consumer surplus is the difference between what you are willing to pay and the actual price of the product. What is the consumer surplus in this situation? Sceptre 65" Class 4K UHD LED TV HDR U650CV-U Average Rating (4.1)out of 5stars1529 ratings, based on1529reviews Please see the provided rubric. O Focus hp inbrt sc & 8 {Price (dollars per sandwich) 0 | 2 345678 4. What is the change in total surplus (CS+ PS) after this change? Quantity supplied (sandwiches per week) 0 Quantity demanded 400 350 300 250 200 150 100 50 0 50 100 150 200 250 300 350 400Price per Constant- Quality Unit $1.00 2.00 3.00 4.00 5.00 Quantity Demanded of Constant-Quality Units per Year 1,000 800 600 400 200 According to the above table, at a price of $1 per unit, which of the following would exist? A) a surplus of 200 units Quantity Supplied of Constant-Quality Units per Year 200 400 600 800 1,000 OB) a shortage of 200 units OC C) a shortage of 800 units ⒸD) a surplus of 800 units
- V surplus is the difference between the highest price a consumer is willing to and the price the consumer actually pays. This component of economic surplus is illustrated in the diagram to the right by area Do Quantity (per time period)At 10 million hours, what areas make up the total economic surplus in this market?Suppose the following graph shows the demand for, and supply of, apartments in New York City. Use the black point (plus symbol) to indicate the equilibrium monthly rent and quantity of apartments in the absence of price controls. Then use the green point (triangle symbol) to fill the area representing consumers' surplus, and use the purple point (diamond symbol) to fill the area representing producers' surplus. MONTHLY RENT (Dollars per apartment) 2800 2600 2400 2200 2000 1800 0 Demand Supply 0.8 3.2 QUANTITY OF APARTMENTS (Millions per month) 1.6 2.4 4.0 Equilibrium A CS PS ?