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MacroADVANCED ANALYSIS Given the following diagrams: Q_1 = 12 bags. Q_2 = 7 bags. Q_3 = 19 bags. The m…” />

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Question: ADVANCED ANALYSIS Given the following diagrams: Q_1 = 12 bags. Q_2 = 7 bags. Q_3 = 19 bags. The m…
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Show transcribed image text ADVANCED ANALYSIS Given the following diagrams: Q_1 = 12 bags. Q_2 = 7 bags. Q_3 = 19 bags. The market equilibrium price is \$46 per bag. The price at point a is \$70 per bag. The price at point c is \$10 per bag. The price at point d is \$56 per bag. The price at point e is \$31 per bag. The price at point f is \$67 per bag. The price at point g is \$32 per bag. Apply the formula for the area of a triangle (Area = 1/2 x Base x Height) to answer the following questions. What is the dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output level Q_1 is being produced? \$ How large is the dollar value of the consumer surplus at the output level Q_1? \$ What is the dollar value of the deadweight loss when output level Q_2 is being produced? \$ What is the total surplus when output level Q_2 is being produced? \$ What is the dollar value of the deadweight loss when output level Q_3 is produced? \$ What is the dollar value of the to

ADVANCED ANALYSIS Given the following diagrams: Q_1 = 12 bags. Q_2 = 7 bags. Q_3 = 19 bags. The market equilibrium price is \$46 per bag. The price at point a is \$70 per bag. The price at point c is \$10 per bag. The price at point d is \$56 per bag. The price at point e is \$31 per bag. The price at point f is \$67 per bag. The price at point g is \$32 per bag. Apply the formula for the area of a triangle (Area = 1/2 x Base x Height) to answer the following questions. What is the dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output level Q_1 is being produced? \$ How large is the dollar value of the consumer surplus at the output level Q_1? \$ What is the dollar value of the deadweight loss when output level Q_2 is being produced? \$ What is the total surplus when output level Q_2 is being produced? \$ What is the dollar value of the deadweight loss when output level Q_3 is produced? \$ What is the dollar value of the to

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