Name: Student ID: Section: SURPLUS AND EFFICIENCY WORKSHEET 1 Below, you are provided with the demand function for apartments in Gainesville, Florida. You will use this demand function to construct a demand curve, and to identify the amount of consumer surplus that arises at different market prices. The quantity of apartments demanded monthly is given by the following demand function: Q

Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops from palmer frosted flakes boxes and $1. the company estimates that 60% of the boxtops will be redeemed. in 2012, the company sold 675,000 boxes of frosted flakes and customers redeemed 330,000 boxtops receiving 110,000 bowls. if the bowls cost palmer company $3 each, how much liability for outstanding premiums should be recorded at the end of 2012?

Under t, the point (0,2) gets mapped to (3,0). t-1 (x, y) →

After the price floor is instituted, the chairman of productions office buys up any barrels of gosum berries that the producers are not able to sell. with the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. how much producer surplus is created with the price floor? show your calculations.