Assignment Question Q1: Illustrate an example of your choice and discuss consumer surplus, producer surplus, Total surplus, and deadweight loss with the help of the graphs.[2.5 Marks] Q2: Calculate the consumer surplus, producer surplus, and total surplus in a market of airplane tickets if the Equilibrium price per ticket is SAR 160, the equilibrium Quantity […]
Assessments Content Instructions: Your task is to complete all assigned questions to the best of your ability. Best of luck! ⦁ What are the four different types of market structures? ⦁ In two or more sentences provide at least 3 or more characteristics that separate a perfectly competitive market structure from a monopolistic market structure? ⦁ […]
Topic: Tailored Clothes Assume that you are ready to buy a custom-tailored dress (or suit) and you are prepared to pay up to $200 for it. Also, assume that the tailor is prepared to sell the item of clothing for as little as $100. When you arrive at the tailor shop, the posted price for […]
Market Efficiency and Market Failure An exchange creates both a consumer surplus and a supplier surplus. Market efficiency occurs when consumer and supplier surplus are maximized. However, in exchanges between buyers and sellers, should society be only concerned with market efficiency? For this discussion, answer the following questions and respond to at least two classmates. […]
