02 May Question: Best of Wingsuit Proximit $12,000 $10,000 $8,000 $6,000 $4,000 $2,000| Bu 0 10 20 30 40 50 60 70 …
Best of Wingsuit Proximit $12,000 $10,000 $8,000 $6,000 $4,000 $2,000| Bu 0 10 20 30 40 50 60 70 80 Q Use this Market (Supply & Demand) Graph for WingSuits, for questions 1 – 8: 1. What is the “Equilibrium” (market agreement) Quantity Sold to Buyers? 2. What is the Equilibrium Price? 3. What Area shows Total Revenue (Total Expenditures)? 4. What Area shows Total Cost (to the Seller)? 5. What Area shows Total Maximum Value (to the Buyer)? 6. What Area shows Profit (to Seller)? 7. What Area shows Consumer Surplus (to Buyer)? (2 pts.) 8. What Area shows Social Surplus (total Trade Gains)?
Market Table for: DryBar styling appts ar Price: d S: $15 1,200 $35 1,000 $55 $75 $95 $115400 Using the Table above: 9. What is the Equilibrium (agreement’) Quantity sold to buyers in the market? 10. What is the Equilibrium Price in the market? 500 650 700 750 1,000 1,200 900 750 550 (4 pts) 11. Write a short example showing buyer- seller agreement & market equilibrium: 1st, select a good or a service being traded – then, make up two dollar numbers, one for the maximum Value of Buyer, one for the minimum dollar Cost of Seller. Then, give a possible $Price – one that’s mutually agreeable to both buyer and seller. Then, calculate the Consumer Surplus, the Producer Surplus, and the Total Trade Gains (Social Surplus) as dollar amounts-> show all numbers, and how you solved them
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