Question
22. Consumers' and Producers' Surplus. The quantity demanded x (in units of a hundred) of the...
22. Consumers' and Producers' Surplus. The quantity demanded x (in units of a hundred) of the Sportsman 5 ✕ 7 tents, per week, is related to the unit price p (in dollars) by the relation
p = −0.1x2 − x + 50.
The quantity x (in units of a hundred) that the supplier is willing to make available in the market is related to the unit price by the relation
p = 0.1x2 + 4x + 20.
If the market price is set at the equilibrium price, find the consumers' surplus and the producers' surplus. (Enter your answers in dollars. Round your answers to the nearest integer.)
consumer's surplus $________
producer's surplus $ _________
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
Consumers' Surplus The demand function for a certain make of replacement cartridges for a water purifier...
Consumers' Surplus The demand function for a
certain make of replacement cartridges for a water purifier is
given by the following equation where p is the unit price in
dollars and x is the quantity demanded each week, measured in units
of a thousand.
p = −0.01x^2 − 0.2x + 30
Determine the consumers' surplus if the market price is set at
$6/cartridge. (Round your answer to two decimal places.)
D(x) is the price, in dollars per unit, that consumers are willing to pay for x...
D(x) is the price, in dollars per unit, that consumers are
willing to pay for x units of an item, and S(x) is the price, in
dollars per unit, that producers are willing to accept for x
units. Find
(a)
the equilibrium point,
(b)
the consumer surplus at the equilibrium point, and
(c)
the producer surplus at the equilibrium point.
D(X)=(x-7)^2
S(x)=x^2+4x+31
The demand function for a certain brand of CD is given by p = −0.01x2 −...
The demand function for a certain brand of CD is given by
p = −0.01x2 −
0.2x + 14
where p is the unit price in dollars and x is
the quantity demanded each week, measured in units of a thousand.
The supply function is given by
p = 0.01x2 +
0.7x + 3
where p is the unit price in dollars and x
stands for the quantity that will be made available in the market
by the supplier, measured...
The demand function for a certain brand of CD is given by p = −0.01x^2 −...
The demand function for a certain brand of CD is given by p =
−0.01x^2 − 0.2x + 11 where p is the wholesale unit price in dollars
and x is the quantity demanded each week, measured in units of a
thousand. The supply function is given by p = 0.01x^2 + 0.4x + 3
where p is the unit wholesale price in dollars and x stands for the
quantity that will be made available in the market by the...
D(x) is the price, in dollars per unit, that consumers are willing to pay for x...
D(x) is the price, in dollars per unit, that consumers are
willing to pay for x units of an item, and S(x) is the price, in
dollars per unit, that producers are willing to accept for x
units. Find (a) the equilibrium point, (b) the consumer
surplus at the equilibrium point, and (c) the producer surplus
at the equilibrium point. D(x)=2500-10x, S(x)=400+25x
D(x) is the price, in dollars per unit, that consumers are willing to pay for x...
D(x) is the price, in dollars per unit, that consumers are
willing to pay for x units of an item, and S(x) is the price, in
dollars per unit, that producers are willing to accept for x
units. Find (a) the equilibrium point, (b) the consumer
surplus at the equilibrium point, and (c) the producer surplus
at the equilibrium point. D(x)=2000 - 10 x, S(x)=1400 +5 x
D(x) is the price, in dollars per unit, that consumers are willing to pay for x...
D(x) is the price, in dollars per unit, that consumers are
willing to pay for x units of an item, and S(x) is the price, in
dollars per unit, that producers are willing to accept for x
units. Find
(a)
the equilibrium point,
(b)
the consumer surplus at the equilibrium point, and
(c)
the producer surplus at the equilibrium point.
D(x)=7-x, for 0≤x≤7
S(x)=StartRoot (x+13) EndRoot
A-TRUE/FALSE-....1-. The quantity demanded is the quantity that consumers are willing and able to purchase at...
A-TRUE/FALSE-....1-. The quantity demanded is the quantity that
consumers are willing and able to purchase at a given price. 2- A
vertical reading of the demand curve gives the maximum price per
unit that consumers are willing to pay for a particular quantity of
a good. 3- There are more substitutes for oil as a jet fuel than
for oil as a lubricant. 4-. An increase in income increases the
demand for normal goods. 5-. Producer surplus can be defined...
D(x) is the price, in dollars per unit, that consumers are willing to pay for x...
D(x) is the price, in dollars per unit, that consumers are
willing to pay for x units of an item, and S(x) is the price, in
dollars per unit, that producers are willing to accept for x
units. Find (a) the equilibrium point, (b) the consumer
surplus at the equilibrium point, and (c) the producer surplus
at the equilibrium point. d(x)=(x-9)^2, s(x)=x^2+6x+57
please help me im at the end of my rope
Qd = 240 - 5P Qs = P (a) Where Qd is the quantity demanded, Qs...
Qd = 240 - 5P
Qs = P
(a) Where Qd is the quantity demanded, Qs is the quantity
supplied and P is the Price. Find:
(1) the Equilibrium Price before the tax
(2) the Equilibrium quantity before the tax
(3) buyers reservation price
(4) sellers reservation price
(5) consumer's surplus before tax
(6) producer's surplus before tax
(b) Suppose that the government decides to impose a tax of $12
per unit on seller's in the market.
Determine:
(1) Demand...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 6 minutes ago
asked 9 minutes ago
asked 14 minutes ago
asked 18 minutes ago
asked 34 minutes ago
asked 44 minutes ago
asked 44 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago