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tlc_71111 tlc_71111
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5 years ago

Question 1.

Economists working for Uber, along with economists from the University of Oxford and the University of Chicago, estimated the consumer surplus attributed to Uber. For the entire United States, these economists estimated that the total consumer surplus from Uber in 2015 was

• almost $0.

• $13.30 per customer.

• $2.88 billion.

• 6.76 billion.

Question 2.

Assume the market price for lemon grass is $4.00 per pound, but most buyers are willing to pay more than the market price. At the market price of $4.00, the quantity of lemon grass demanded is 1,500 pounds per month, and quantity demanded does not reach zero until the price reaches $30.00 per pound. Construct a graph showing this data, calculate the total consumer surplus in the market for lemon grass, and show the consumer surplus on the graph. Your demand curve should be a straight line.
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Microeconomics

Microeconomics


Edition: 7th
Authors:
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tlc_71111 Author
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5 years ago
This helped my grade so much Perfect
ezsancheezy
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Yesterday
Just got PERFECT on my quiz
veronee_madison
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2 hours ago
Correct Slight Smile TY
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