Answer:
$52
$ 1.33
- consumer price will increase
- consumer surplus will decrease
- import will decrease
- reduced export
- portends gloom for the general outlook for the economy
Explanation:
Given domestic demand curve, S(p) = 20p⁻⁰°⁵
the domestic supply curve S(p)= 5p⁰°⁵
world price is $7.00
using calculus to determine the changes in consumer surplus
by consumer surplus means in this case supply exceeds demand
we establish the equilibrium point where the supply and demand functions meet or are equal
solving 20p⁻⁰°⁵ = 5p⁰°⁵
20/5 = p⁰°⁵/p⁻⁰°⁵
4 = p⁰°⁵⁺⁰°⁵
4= p = q which is the quantity produced
consumer surplus = maximum price willing to pay - Actual price
= ∫⁴₀ dp dp - p* q
= ∫⁴₀20p⁻⁰°⁵ dp- 7* 4
= 20∫⁴₀p⁻⁰°⁵ dp -28
= 20/0.5 p⁰°⁵- 28
= 40 *4⁰°⁵ - 28 = $52
producer surplus = it is a measure of producer welfare. It is measured as the difference between what producers are willing and able to supply a good for and the price they actually receive
thus producer surplus = p* q - ∫⁴₀ d(s) dp
= 7 * 4 - ∫⁴₀ 5p⁰°⁵ dp
= 28 - 5 ∫⁴₀ p⁰°⁵ dp
= 28 -5 *2/3 p¹°⁵
= 28 -5 *2/3 4¹°⁵
=$ 1.33
welfare from eliminating free trade
- consumer price will increase
- consumer surplus will decrease
- import will decrease
- reduced exports
- portends gloom for the general outlook for the economy
I believe its owners , but hopefully i helped
Answer:
3 then 1
Explanation:
Supply is said to be increased when the quantity supplied expands but the price and quantity demanded remains unchanged. As quantity supplied has increased whereas the quantity demanded is what it was before this change, there is first a surplus of bottled water in the market. This surplus will have a downward pressure on price, reducing the quantity supplied a bit and, as the law of demand suggests ,the quantity demanded will increase. Given that the demand is relatively price elastic, the change in quantity demanded will be greater than the change in price. Therefore the revenue will increase.
Answer:
20,140 units
Explanation:
The number of units started will be the units completed in April plus the ending inventory minus the opening work in progress.
Units started = completed unit + ending inventory - beginning inventory.
Units started = 22,300 + 6,040 -8,200
units started = 28,340 - 8200
units started =20,140
I would be great for this job because, I work well with others and believe in making compromises and working together!
I'm very hands on with most things, I catch on quickly and am willing to do anything it takes to achieve the higher goal.
(Only two i can come up with.)
