Let the market for tennis racquets bequantity demanded amp, Ask an Expert

Economics

Let the market for Tennis racquets be:

Quantity demanded & market price quantity supplied & market price

0 100 0 40

25 80 15 50

40 50 25 80

a. What is the total purchase of tennis racquets? Why?

b. What is the consumer surplus? Why?

c. What is the increase in consumer surplus when the market price drops to $ 50?

d. What is the increase in producer surplus when the market jumps to 80?

f. Deduce and explain the total surplus

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91672043

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