Friday
November 28, 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

economy - consider a perfectly competitive market in which all firms have the ...
Microeconomics - What are the condition for a perfectly competivie market? Name ...
Microeconomics - In the context of a supply-demand diagram of the low-skill ...
Economics/Math - Suppose there are four firms in a competitive market and that ...
Micreoeconomics - 1. Assume a perfectly competitive constant cost industry, ...
microeconomics - Market demand is given as QD = 200 3P. Market supply is given...
Microeconomics [Urgent!] - I have an exam tomorrow and I really need to know how...
Microeconomics - A perfectly competitive industry has a large number of ...
microeconomics - Market demand is given as QD = 200 3P. Market supply is given...
Microeconomics - The labor demand curve of a purely competitive seller: What ...

Search
Members