Question: This is my questions, thank you ! Problem 2 (30 pts) Explain your answers! The market demand function for computer games is 919(3)) 2 300

This is my questions, thank you !

This is my questions, thank you ! Problem 2 (30 pts) Explain

Problem 2 (30 pts) Explain your answers! The market demand function for computer games is 919(3)) 2 300 6;) and the market supply function is 913(3)) 2 439. (a) Find the equations of (express price in terms of quantity) and plot the demand and supply curves corresponding to the given market demand and supply functions. Find the market equilibrium price and quantity 10* and (3*. (b) Find the producer's surplus and consumer's surplus at the equilibrium. (c) Vv'hat is the price elasticity of demand at the equilibrium point? (d) Derive the equation of the marginal revenue curve and compute the marginal revenue at the equilibrium point in (a). (e) Given the demand function= at what price would total revenue be maximized? (f) Suppose a quantity tax of $5 per game is imposed on the computer game suppliers. \""hat is the new equilibrium price paid by the consumers? TWhat is the new equilibrium price received by producers?l How much is the tax revenue? How much is the deadweight loss of the tax? Use a graph to explain your answers. Problem 3 (15 pts) Explain your answers! Suppose the production function of a firm is given by K, L) = SKI/\"Luz, where K is capital and L is labor. (a) Find the expressions for the marginal product of capital and the marginal product of labor. (b) TWrite down the equation of the isoquant corresponding to an output level of 10. (c) Vs-"hat is the technical rate of substitution (TRS) at K = 10 and L = 20

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