The local Madison market for baby cribs is described by the…

The local Madison market for baby cribs is described by the following supply and demand equations   Demand: P = 400 -10Q Supply: P = 100 + 5Q Where P is the price per crib and Q is the quantity of cribs. a. Given this the information on the cribs market, find the equilibrium price and quantity of cribs. Equilibrium Price is P = Equilibrium Quantity is Q = b. What is the consumer surplus (CS) and producer surplus (PS) in the cribs market? CS = PS =   c. Suppose the local government in Madison decides to impose an excise tax of $60 per crib on the crib producers. Given this tax, what is the new supply curve in this market now that producers have an additional cost from the tax? Answer: New supply curve is: d. Given the above excise tax on producers, what is the new equilibrium price in the market for cribs? What is the tax revenue that the government receives from implementing the tax? What is the deadweight loss (DWL) due to the tax? Answer:  New equilibrium price is: P = Tax Revenue = DWL =  

Weekend plans!Write about your plans for this weekend. What…

Weekend plans!Write about your plans for this weekend. What are you going to do? For example: Are you going to rest this weekend? Are you going to swim and/or to sunbathe? Are you going to play an instrument (e.g., the guitar)? Are you going to watch a movie? Are you going to go out with your friends? Where are you going to go? Are you going to any celebrations (e.g., a birthday party)? What and where are you going to eat this weekend? Etc. Use ir a + infinitive with vocabulary of entertainments and celebrations, and food.

Your favorite family memberWrite about your favorite female…

Your favorite family memberWrite about your favorite female relative. How is she related to you? What is she like? Where does she live? Where does she work? What is her daily routine like? What time does she get up? What time does she go to bed? What do you prefer to do together? Do you go to places together? Do you plan to have lunch with her soon? Use the present tense of regular verbs, stem-changing verbs, reflexive verbs, and vocabulary of the family.