Question

The supply curve for product X is given by Qsx = -520 + 20Px Find the...

  1. The supply curve for product X is given by Qsx = -520 + 20Px
  1. Find the inverse supply curve.
  2. How much surplus the do producers receive when Qx 400? When Qx =1200?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The supply curve for product X is given by QXS = -440 + 20PX . a....
The supply curve for product X is given by QXS = -440 + 20PX . a. Find the inverse supply curve. P = _____ + ______ Q b. How much surplus do producers receive when Qx = 420? When Qx = 980? When QX = 420: $ When QX = 980: $
The supply curve for product X is given by QXS = -300 + 10PX . a....
The supply curve for product X is given by QXS = -300 + 10PX . a. Find the inverse supply curve. P = 30 + Q b. How much surplus do producers receive when Qx = 300? When Qx = 800? When QX = 300: $ When QX = 800: $
Find the producers' surplus for a product if the supply function is given by S(x)=0.19e0.1xS(x)=0.19e0.1x and...
Find the producers' surplus for a product if the supply function is given by S(x)=0.19e0.1xS(x)=0.19e0.1x and xE=6xE=6 units. Round your answer to the nearest cent.
The supply curve for a commodity has the equation p = 0.4 x − 2.5 ,...
The supply curve for a commodity has the equation p = 0.4 x − 2.5 , and the demand curve is p = 20 − 0.05 x , where p is in dollars. A. Find the equilibrium point. B. Find the consumers’ surplus. C. Find the producers’ surplus.
​​​​​ The demand function for Internet cameras is given by PX=60-X. The marginal cost curve is...
​​​​​ The demand function for Internet cameras is given by PX=60-X. The marginal cost curve is MC = 10. Assume that there is a competitive equilibrium in the market currently. Find the equilibrium price and quantity in the market. Calculate consumers’ surplus. Calculate the producers’ surplus (profit). Draw the supply and demand curve (on the same plane). On it, mark the equilibrium price and quantity, consumers’ surplus (mark the area) and producers’ surplus (mark the area). Is the outcome Pareto...
The market for apples is perfectly competitive, with the market supply curve is given by P...
The market for apples is perfectly competitive, with the market supply curve is given by P = 1/8Q and the market demand curve is given by P = 40 – 1/2Q. a. Find the equilibrium price and quantity, and calculate the resulting consumer surplus and producer surplus. Indicate the consumer surplus and producer surplus on the demand and supply diagram. b. Suppose the government imposes a 10 dollars of sale tax on the consumer. What will the new market price...
The inverse demand curve for delivery meals is: Pd=18-3Qd the inverse supply curve is: Ps=3Qs where...
The inverse demand curve for delivery meals is: Pd=18-3Qd the inverse supply curve is: Ps=3Qs where p is price of meal in dollars, Q is quantity in thousands of meals a.) solve for equilibrium price and quantity b.) draw the supply and demand curves and the equilibrium outcome on axes below and label graph c.) Calculate the consumer surplus and producer surplus in this market, and show them on the set of axes above. d.) suppose the government imposes a...
Given a demand curve of P = 63 - 1.5Q and a supply curve of P...
Given a demand curve of P = 63 - 1.5Q and a supply curve of P = 3 + 0.5Q, with a tax of 24, solve for the percentage loss of surplus for both consumers (Answer 1) and producers (Answer 2). The formula for percentage loss is, for example, (CS - CSt)/CS.   
Consider the following US reduced supply and demand equations for commodity X: QdX = 400 –...
Consider the following US reduced supply and demand equations for commodity X: QdX = 400 – 2Px and QsX = - 100 + 3Px A. What are (1) the equilibrium price per unit of product; (2) Quantity of this product sold at this price; and (3) what were the revenue for the producers? B. If this product can now be export to a make-believe country and the estimated reduced demand equation for this product in this make-believe country is :...
Suppose the market demand curve for a product is given by QD=100-5P and the market supply...
Suppose the market demand curve for a product is given by QD=100-5P and the market supply curve is given by QS=5P a. What are the equilibrium price and quantity? b. At the market equilibrium, what is the price elasticity of demand? Suppose government sets the price at $15 to benefit the producers. What is the quantity demanded? What is the quantity supplied? What is the amount of the surplus? Suppose market demand increases to Qd=200-5P. What is the new equilibrium...