Friday
April 18, 2014

Homework Help: microeconomics

Posted by sarah on Wednesday, February 13, 2013 at 11:23pm.

1. Market demand is given as QD = 250 0.5P. Market supply is given as QS = 2P. In a perfectly competitive equilibrium, what will be the value of consumer surplus?

a.$10 000
b.$20 000
c.$40 000
d.$80 000


2. Market demand is given as QD = 250 0.5P. Market supply is given as QS = 2P. In a perfectly competitive equilibrium, what will be the value of producer surplus?

a.$10 000
b.$20 000
c.$40 000
d.$80 000

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

microeconomics - Market demand is given as QD = 200 3P. Market supply is given...
economics - Market demand is given as QD = 200 – 3P. Market supply is given as...
economics - 1. Suppose that the market of laptops is given by following supply ...
Microeconomics - Suppose that the market labor supply and labor demand equations...
Microeconomics - This is a 5 part question; (a-e)The question reads: Suppose ...
economics - Market research has revealed the following information about the ...
microeconomics - If aggregate demand for a product is Qd = 600 20P and supplys...
economy - consider a perfectly competitive market in which all firms have the ...
Economics - How can you obtain a downward sloping market demand curve from a ...
Microeconomics [Urgent!] - I have an exam tomorrow and I really need to know how...

Search
Members