Total surplus in a market is equal to a amount received by sellers costs of sellers b willingness to pay price c consumer surplus producer surplus d value to buyers amount paid by buyers ...

Answer There are two actors operates in the m ...

Total surplus in a market is equal to a. amount received by sellers - costs of sellers.

Fantastic news! We've Found the answer you've been seeking!

Question:

Total surplus in a market is equal to

	a.	amount received by sellers - costs of sellers.
	b.	willingness to pay - price.
	c.	consumer surplus + producer surplus.
	d.	value to buyers - amount paid by buyers.

Related Book For answer-question

Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

See More Books

Posted Date: Mar 30, 2022 02:13 AM

See More Questions

Suppose that the supply curve in a market is upward sloping and that the demand curve is totally inelastic. In a free market the price is $30 per ton. If an excise tax of $2 per ton is imposed in the...
Total consumer and producer surplus is maximized under perfect competition. If government restricted the quantity that could be brought to market, how would this restriction affect price, quantity,...
The demand for rosebushes in a market is as follows: Price (per rosebush) Quantity Demanded (rosebushes per week) $10 .................................. 230 $11 .................................. 150...
Redo Exercise 29 for the situation in which Ms. Jones withdrew $1000 at the end of the seventh year instead of depositing it. Data in Exercise 29 Ms. Jones deposited $100 at the end of each month for...
Yummi Company makes five types of cookies. The budgeted and actual sales and selling prices follow. Budgeted revenues: Chocolate chip (45,000 boxes at $ 7.40 per box)...
Mark each of the following true or false. ___ a. The nonzero elements of every finite field form a cyclic group under multiplication. ___ b. The elements of every finite field form a cyclic group...
A company markets ethylene glycol antifreeze in halfgallon bottles. A machine fills and caps the bottles at a rate of 60 per minute. The $68{ }^{\circ} \mathrm{F}$ ethylene glycol \(\left(ho=69.3...
When a new machine is functioning properly, only 3% of the items produced are defective. Assume that we will randomly select two parts produced on the machine and that we are interested in the number...
Explain one way compensation professionals can strengthen the pay-for-performance link? What the strengths of this way? And what are the drawbacks?
In Part III (Appendix 11B) of the audit case, the audit staff of Adams, Barnes & Co. identified specific revenue risks on working paper RA-12 (page 494). However, the Summary of Audit Approach...
Armstead Motors assembles the fully electric Model S-85 automobile at its Newark, California, plant. The standard variable manufacturing cost per vehicle in 2017 is $58,500, which consists of: i...
The static getAvailableCurrencies method of the java.util.Currency class yields a set of Currency objects. Turn it into a stream and transform it into a stream of the currency display names. Print...
Paths can be absolute or relative. An absolute path name begins with a root element (/ on Unix-like systems, a drive letter on Windows). Look at the Path API to see how one can create and recognize...
Examine Figure 10-9 and explain how the community hospital in its present position. (quadrant 3) could reposition itself to quadrant 2 and to quadrant 1. Breadth of product line Broad Narrow High...
Enhance Exercise E25.4 as follows: First read the XML file in, then add ten percent interest to all accounts, and write an XML file that contains the increased account balances. Data from exercise...
What happens if you try to move the file pointer past the end of a file? Try it out and report your result.
Consider a linear homogeneous second order ODE y" +p(t)y' +q(t)y=0 (1) Suppose we know that one solution of the ODE is yi (t). You want to find a second solution linearly independent from 3. (a)...
For the following exercises, write the polynomial function that models the given situation. Consider the same rectangle of the preceding problem. Squares of 2x by 2x units are cut out of each corner....
What are the differences among first-degree, second degree, and third-degree price discrimination?
A paint manufacturing company has a production function Q = K + L. For this production function MPK = 1 and MPL = 1/(2L). The firm faces a price of labor w that equals $1 per unit and a price of...
Gizmos are produced and sold in a competitive market. When there is no tax, the equilibrium price is $100 per gizmo. The own-price elasticity of demand for gizmos is known to be about -0.9 and the...
Suppose you increase the gauge pressure in the tires of your car by $10 \%$. (a) How does the area of the tires in contact with a level road change? (b) If the gauge pressure in the tires is \(2.0...
In a service station's hydraulic lift, the diameter of the large piston is $200 \mathrm{~mm}$ and the diameter of the small piston is $30 \mathrm{~mm}$. Force is exerted on the small piston by an...
Initially, both legs of a mercury manometer are open to the atmosphere, and the mercury height in the left leg is $40.0 \mathrm{~mm}$. You inflate a balloon until it has a surface area of \(0.300...

Total surplus in a market is equal to a. amount received by sellers - costs of sellers.

Question:

Expert Answer:

Answer There are two actors operates in the m... View the full answer

Microeconomics

Students also viewed these accounting questions