1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Whitepunk [10]
2 years ago
9

Assume the following values for the diagrams below: Q1 = 15 bags. Q2 = 10 bags. Q3 = 22 bags. The market equilibrium price is $2

5 per bag. The price at point a is $70 per bag. The price at point c is $10 per bag. The price at point d is $40 per bag. The price at point e is $20 per bag. The price at point f is $32 per bag. The price at point g is $4 per bag. Apply the formula for the area of a triangle (Area = ½ × Base × Height) to answer the following questions.
a. What is the dollar value of the total surplus (= producer surplus + consumer surplus) when the allocatively efficient output level is produced?

What is the dollar value of the consumer surplus at that output level?

b. What is the dollar value of the deadweight loss when output level Q2 is produced?

What is the total surplus when output level Q2 is produced?

c. What is the dollar value of the deadweight loss when output level Q3 is produced?

What is the dollar value of the total surplus when output level Q3 is produced?
Mathematics
1 answer:
Basile [38]2 years ago
8 0

Answer:

Step-by-step explanation:

a. $360

The total surplus of Q1 is found within triangle abc. The base is a ($70) to c ($10), and the height is the x value of b, or Q1 (12 bags). The total length of the base is 60 (70-10). Multiply that by the height of the triangle (12), and divide the total by 2. (60 x 12) / 2 = 360

a1. $144

The consumer surplus for Q1 is found within the triangle formed by point a, point b, and the y intercept of the equilibrium. The problem says equilibrium = 46, so the third is point (0, 46). The base is point a ($70) to the equilibrium intercept ($46). The height is Q1 (12). The total base is 24 (70-46). (24 x 12) / 2 = 144

b. $62.50

The deadweight loss for Q2 is found is found within triangle dbe. The base is d ($56) to e ($31). The height of the triangle is Q2 (7) to Q1 (12). The total base is 25 (56-31), and the total height is 5 (12-7). (25 x 5) / 2 = 62.5

b1. $297.50

The total surplus of Q2 is found by subtracting the deadweight loss from the total surplus. 360 - 62.5 = 297.5

c. $122.50

The deadweight loss for Q3 is found within triangle bfg. The base is f (67) to g (32). The height is Q1 (12) to Q3 (19). The total base is 35 (67-32) and the total height is 7 (19-12). (35 x 7) / 2 = 122.5

c1. $237.50

The total surplus for Q3 is found by subtracting the deadweight loss from the total surplus. 360 - 122.5 = 237.5

You might be interested in
Median of 28, 30, 34, 35
Arturiano [62]
You first put them all in order from least to greatest. Now, since 30 and 34 seem to be in the middle, write the number in between them: 30, 31, 32, 33, 34.

And you get your answer as 32. Hope this helped ;)
5 0
3 years ago
What is the answer for the algebra equation Ab•2b
CaHeK987 [17]

Answer:

\huge\bold\purple{      2a•3b          }

3 0
3 years ago
For what value of x is f(x) = 10?<br> (-1,6)(2,8)(3, 10) (5, 16)
Alex_Xolod [135]

Answer:

(3,10)

Step-by-step explanation:

From f(x)=10 you can see that the value of y,which is equal to f(x), is 10.

Therefore, the only option you could pick is that where y=10,which is the case for option (3,10).

7 0
3 years ago
What is the lcd of the fractions 4/5x^2y, 8/3xy, 12/13xy^5
zheka24 [161]
195xy is ur lowest common denominator
6 0
3 years ago
Cube-shaped blocks are packed into a cube-shaped storage container. ​ The edge length of the storage container is 212 feet. The
igor_vitrenko [27]

Answer:

The volume of cube-shaped block is 0.125 cubic feet.

Step-by-step explanation:

We are given the following in the question:

Edge length of storage container =

2\dfrac{1}{2}\text{ feet}

Edge length of block =

\dfrac{1}{5}\times \text{Edge length of container}

Putting value we get,

Edge length of block =

\dfrac{1}{5}\times 2\dfrac{1}{2}\\\\=\dfrac{1}{5}\times \dfrac{5}{2}\\\\=\dfrac{1}{2}\text{ feet}

Volume of cube-shaped block = Volume of cube

V = \text{(Edge)}^3\\\\V =(\dfrac{1}{2})^3\\\\V = \dfrac{1}{8}\text{ cubic feet}\\\\V = 0.125\text{ cubic feet}

Thus, the volume of cube-shaped block is 0.125 cubic feet.

7 0
2 years ago
Other questions:
  • The population of Foxville is about 12x10³ people.Which is another way to write this number?
    8·2 answers
  • Alicia borrowed 15000 to buy a car. she borrowed the money at 8% for 6 years. How much will she have to pay the bank at the end
    11·1 answer
  • A 16-pound turkey cost $13.60. What was the cost per pound?
    11·2 answers
  • A jar contains n nickels and d dimes. There are 30 coins in the jar, and the total value of the coins is $2.20. How many nickels
    7·1 answer
  • If Kailyn ran 3 miles in 20 minutes, how many miles would she run in 1 hour?
    11·2 answers
  • A granite monument has a volume of 25,365.4 cm3. The density of granite is 2.7 g/cm3. Use this information to calculate the mass
    6·2 answers
  • Solve the absolute value equation. [×3]-2=9​
    12·2 answers
  • Find the equation of a line that has a slope of -3/2 and passes through the point (2,1)
    15·2 answers
  • Given minimum and maximum data entries and the number of classes min = 75, max = 280, 10 classes. Write the first five lower cla
    10·1 answer
  • Select the correct location on the coordinate plane.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!