Use the following values for the graph above: A 20.00 19.00 $ с 18.00 D 14.00 E 10.00 F 5 G 10 H 30 Calculate the following at the equilibrium price of $18.00. a. The weekly consumer surplus at the market equilibrium price. Instructions: Enter your response rounded to the nearest penny (two decimal places). $ 50 per week. b. The weekly producer surplus at the market equilibrium price. Instructions: Enter your response rounded to the nearest penny (two decimal places). 100 per week. I 100 c. The maximum weekly amount that producers and consumers in Lincoln would be willing to pay to be able to buy and sell used DVDs in any given week (total economic surplus). Instructions: Enter your response rounded to the nearest penny (two decimal places).

Use the following values for the graph above: A 20.00 19.00 $ с 18.00 D 14.00 E 10.00 F 5 G 10 H 30 Calculate the following at the equilibrium price of $18.00. a. The weekly consumer surplus at the market equilibrium price. Instructions: Enter your response rounded to the nearest penny (two decimal places). $ 50 per week. b. The weekly producer surplus at the market equilibrium price. Instructions: Enter your response rounded to the nearest penny (two decimal places). 100 per week. I 100 c. The maximum weekly amount that producers and consumers in Lincoln would be willing to pay to be able to buy and sell used DVDs in any given week (total economic surplus). Instructions: Enter your response rounded to the nearest penny (two decimal places).

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section: Chapter Questions

Problem 23AA

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