Second AssignmentF [Compatibility Mode] - Word DUT REFERENCES MAILINGS VIEW REVIEW Аавьссі Аавьссі Аавьс Аавьссс Аав Аавьссі À Aa R. E AL A-al-A Title Subtitle 11 Normal 1 No Spac... Heading 1 Heading 2 Г Paragraph Styles also explain the incidences of tax in four to five lines. C. If the tax imposed by the government on the renters of the apartment, explain (show) how this affects the initial equilibrium, label the new equilibrium, and explain its implication? Illustrate your answer in 4-5 lines 7. The table below shows the cost of basketball of each seller. Based on this answer the following questions? No Seller Cost Hellen 1500 2 Ravie 1200 3 Ana 900 4 Alex 600 5 John 300 1 انا اخل A. What is producer surplus, and draw the supply curve? Draw the fig and give your answer in 4-5 lines. B. Show (point on the supply curve) at producer surplus at each producer price? C. Explain how price affects producers' surplus? Don't answer in less than 3 lines please D. Considering the concept of consumer surplus and producer surplus when do we say the allocation of resources determined by free market is desirable? Your answer should be in 5-6 lines and you may also draw the dig. 8. A. When learning about consumer and producer surplus we have discussed the contrasts between efficiency and equity often policy makers find it difficult to address, why? Discussed and your answer shouldn't be less than 150 words. B. Also explain how following " laissez fair" policy can overcome market complications? Your answer shouldn't be less than 170 words. 9 How could a good that is branded and expensive (like computer), and is on sale be an inferior and a normal good? Your answer shouldn't be less than four lines. 10. What is the difference between income elasticity and cross elasticity, and what is the economic meaning ofeach 2 Your answer should not be less than 8 lines. ENGLISH (CANADA . + Fg X 수 X FB 000 FB F O 7 F9 FTO Insert Ins F12 PrtSc Impr. ÉGI. Delete Suppr. Home Dobut Pause # $ % * 3 ) 4 0 5 6 + 7 i 8 2 ( 93 0 1/4 1/2 = 3/4 Num Verr.Nu E R T T 300 A. What is producer surplus, and draw the supply curve? Draw the fig and give your answer in 4-5 lines. B. Show (point on the supply curve) at producer surplus at each producer price? C. Explain how price affects producers' surplus? Don't answer in less than 3 lines please D. Considering the concept of consumer surplus and producer surplus when do we say the allocation of resources determined by free market is desirable? Your answer should be in 5-6 lines and you may also draw the dig. 8. A. When learning about consumer and producer surplus we have discussed the contrasts between efficiency and equity often policy makers find it difficult to address, why? Discussed and your answer shouldn't be less than 150 words. B. Also explain how following " laissez fair" policy can overcome market complications? Your answer shouldn't be less than 170 words. 9 How could a good that is branded and expensive (like computer), and is on sale be an inferior and a normal good? Your answer shouldn't be less than four lines. 10. What is the difference between income elasticity and cross elasticity, and what is the economic meaning of each? Your answer should not be less than 8 lines. 9 N w] 9