Question

1.) Calculate the consumers' surplus at the indicated unit price p for the demand equation. HINT...

1.) Calculate the consumers' surplus at the indicated unit price p for the demand equation. HINT [See Example 1.] (Round your answer to the nearest cent.)

p = 12 − 2q1/3; p = 8

2.) calculate the consumers' surplus at the indicated unit price p for the demand equation. HINT [See Example 1.] (Round your answer to the nearest cent.)

p = 700e−2q;  p = 80

Math   Calculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Calculate the consumers' surplus at the indicated unit price p for the demand equation.(Round your answer...
Calculate the consumers' surplus at the indicated unit price p for the demand equation.(Round your answer to the nearest cent.) q = 50 − 3p; p = 9
Find the consumers' surplus at a price level of $7 for the price-demand equation p=D(x)=35−0.2x where...
Find the consumers' surplus at a price level of $7 for the price-demand equation p=D(x)=35−0.2x where p is the price and x is the demand. Do not include a dollar sign or any commas in your answer.
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.)
2) Find the future value FV (at the end of the given interval) using the given...
2) Find the future value FV (at the end of the given interval) using the given interest rate. (Round your answers to the nearest cent.) R(t) = 48,000e0.04t, 0 ≤ t ≤ 10, at 5% 3) Calculate the producers' surplus for the supply equation at the indicated unit price p. (Round your answer to the nearest cent.) p = 10 + 2q;  p = 28
Demand for Dok P=60-0.5Q supply P=12+0,5Q 1.what is the equilibrium price, quantity, consumer surplus and producer...
Demand for Dok P=60-0.5Q supply P=12+0,5Q 1.what is the equilibrium price, quantity, consumer surplus and producer surplus. 2.suppose the demand curve increases by 12 unit at given price. Hold everything constant, what is new equilibrium price, quantity, consumer surplus and producer surplus. 3.use the original demand and supply curve in part one. assume economy can trade with world for 12 unit. What is the market price for local consumers if the world price is 24. What is price local producer...
Given a demand curve of Q=100−4P: 1st attempt Part 1 (1 point)See Hint Calculate the price...
Given a demand curve of Q=100−4P: 1st attempt Part 1 (1 point)See Hint Calculate the price at which demand is unit elastic. This price is $ . (Round your answer to two decimal places.) Part 2 (1 point)See Hint Find the quantity where demand is unit elastic. This quantity is 25 units . (Round your answer to two decimal places.) Part 3 (1 point)See Hint At quantities lower than the value found in Part 2, the demand curve is Choose...
Find the equation of the tangent to the graph at the indicated point. HINT [Compute the...
Find the equation of the tangent to the graph at the indicated point. HINT [Compute the derivative algebraically; then see Example 2(b) in Section 3.5.] a.) f(x) = x2 − 3; a = 8 b.) f(x) = x2 − 8x; a = −1
Using the following information to calculate a)-n). Demand: P = 45- ½ Q Supply: P =...
Using the following information to calculate a)-n). Demand: P = 45- ½ Q Supply: P = 2Q a) P*=_________ b) Q*=_________ c) Initial Consumer Surplus=__________ d) Initial Producer Surplus=__________ e) Total Surplus =_________________ Now the government imposes a $15 per unit tax on consumers. Calculate the following. f) Tax Distorted Competitive Equilibrium Quantity=_____ g) Price (consumers pay with tax)=________ h) Price (producers get with tax)=________ i) Consumer surplus with tax=_________ j) Producer surplus after tax=__________ k) Tax Revenue=_____________ l) Total...
Suppose that the demand equation: P = 6 – Q and supply equation: P = Q....
Suppose that the demand equation: P = 6 – Q and supply equation: P = Q. a. Calculate the price elasticity of demand at equilibrium. b. Calculate the equilibrium price and quantity, and consumer surplus and producer surplus. c. Suppose government imposes a unit tax of $1 on producers. Derive the new supply curve and also calculate the new equilibrium price and quantity. d. Calculate tax revenue and the deadweight loss of this tax.
1. In this problem, p and C are in dollars and x is the number of...
1. In this problem, p and C are in dollars and x is the number of units. A monopoly has a total cost function C = 1000 + 216x + 0x2 for its product, which has demand function p = 648 ? 3x ? 2x2. Find the consumer's surplus at the point where the monopoly has maximum profit. (Round your answer to the nearest cent.) 2. In this problem, p is in dollars and x is the number of units....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT