Find the Consumer Surplus and the Producer Surplus at the equilibrium price if the price-demand (D(x)) and the price-supply (S(x)) functions are as follows: D(x)=600 0.07x S(x) = 100+ 0.03x
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- Given: (x is number of items) Demand function: d(x) = 8160 - 0.3x² Supply function: s(x) = 3x Find the equilibrium quantity: Find the consumers surplus at the equilibrium quantity:The price-demand equation for a particular flashlight is given by p = 118 - 0.002x, where x is the number of flashlights demanded when the price is p dollars each. The flashlight manufacturers will produce no flashlights if the price is $79 or less, and they will market 5,500 flashlights when the price is $101 per flashlight. (Assume the price-supply equation is linear.) (a) Find the consumers' surplus for this commodity. $ (b) Find the producers' surplus for this commodity. $Given: (x is number of items) Demand function: d(x) = 200 – 0.3x Supply function: s(x) = 0.5x Find the equilibrium quantity: Find the consumers surplus at the equilibrium quantity:
- Given: (x is number of items) Demand function: d(x) = 264.6 – 0.2a? Supply function: s(x) = 0.4x? Find the equilibrium quantity: Preview Find the consumers surplus at the equilibrium quantity: PreviewThe demand and supply functions for Penn State ice hockey jerseys are: p=d(x)=x²-15x + 545 p=s(x) = 5x² + 3x + 17 where x is the number of hundreds of jerseys and p is the price in dollars. (a) Find the equilibrium quantity, Equilibrium quantity, x- (b) Compute the total surplus at the equilibrium point. Total surplus = which corresponds to dollars jerseys.Calculate the Consumer surplus for 28 liras in a market with the demand function, p = - (q + 2) 2 + 64.
- The demand function for a certain product is? = 86 − ?2and the supply function is? = ?2 + 6? + 30where p is in millions of dollars and x is the number of thousands of units. Find the equilibriumpoint (x, p), then find the consumer’s surplus and producer’s surplus. Round your answer to thenearest unit (the nearest million dollars).Consumers' Surplus The demand function for a certain brand of CD is given by p = −0.01x2 − 0.3x + 19 where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Determine the consumers' surplus (in dollars) if the market price is set at $9/disc. (Round your answer to two decimal places.) $For the demand and supply equations: S(q) = 5 + 0.004q2 , D(q) = 25 − .004x2 a)find the equilibrium price b)find the producers’s surplus c)find the consumers’s surplus.
- The demand function for a certain kind of laptop is given by -0.04x p = 600e where p is the unit price in dollars and x (in units of a hundred) is the quantity demanded each month. (a) Find the number of laptops demanded per month of the unit price is set at $500 per laptop. (b) Use the results of part (a) to find the consumers' surplus if the selling price is set at $500 per laptop.Suppose that the price elasticity of demand for good q is constant and equal to -1. When the price of q is $15 per unit, the total amount demanded is 600 units. If the supply is perfectly inelastic at 150 units, the equilibrium price (p) and the equilibrium quantity (q) is (a) p = 20, q = 50 (b) p = 40, q = 100 (c) p = 60, q = 150 (d) p = 80, q = 200 (e) None of the above.The demand function for a certain brand of CD is given by p = -0.01x^2 - 0.2x +10 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 in units of a thousand. Determiine the producer's surplus if the market price is set at the equilibrium price. (round answer to neareset dollar) P = 0.01x^2 + 0.4x +2