Find the consumers' surplus and the producers' surplus at the equlibrium level for the given price-demand and price-supply equations. Include a graph that identifies the consumers' surplus and the producers' surplus. Round all values to the nearest integer. p=D(x)=41.4-0.06x; p=S(x) = 15+0.05x The consumers' surplus at equilibrium is $ 1,728. The producers' surplus at equilibrium is $ 1,440. Identify the correct graph, showing the consumers' surplus, shaded silver, and the producers' surplus, shaded blue. A. AP 50- 27- 0- 240 500 Ly ○ B. ○ C. AP 50- Q 50- 27- 0+ 0 240 500 L 27- 0+ 0 240 500 X ○ D. p @ Q 50- Q 27- 0+ 0 240 500 X ☑ Clear all Check answer mistakes Consider checking important information.

Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter4: Prices: Free, Controlled, And Relative
Section: Chapter Questions
Problem 4WNG
Question
Find the consumers' surplus and the producers' surplus at the equlibrium level for the given price-demand
and price-supply equations. Include a graph that identifies the consumers' surplus and the producers' surplus. Round
all values to the nearest integer.
p=D(x)=41.4-0.06x; p=S(x) = 15+0.05x
The consumers' surplus at equilibrium is $ 1,728.
The producers' surplus at equilibrium is $ 1,440.
Identify the correct graph, showing the consumers' surplus, shaded silver, and the producers' surplus, shaded blue.
A.
AP
50-
27-
0-
240
500
Ly
○ B.
○ C.
AP
50-
Q
50-
27-
0+
0
240
500
L
27-
0+
0
240
500
X
○ D.
p
@
Q
50-
Q
27-
0+
0
240
500
X
☑
Clear all
Check answer
mistakes Consider checking important information.
Transcribed Image Text:Find the consumers' surplus and the producers' surplus at the equlibrium level for the given price-demand and price-supply equations. Include a graph that identifies the consumers' surplus and the producers' surplus. Round all values to the nearest integer. p=D(x)=41.4-0.06x; p=S(x) = 15+0.05x The consumers' surplus at equilibrium is $ 1,728. The producers' surplus at equilibrium is $ 1,440. Identify the correct graph, showing the consumers' surplus, shaded silver, and the producers' surplus, shaded blue. A. AP 50- 27- 0- 240 500 Ly ○ B. ○ C. AP 50- Q 50- 27- 0+ 0 240 500 L 27- 0+ 0 240 500 X ○ D. p @ Q 50- Q 27- 0+ 0 240 500 X ☑ Clear all Check answer mistakes Consider checking important information.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Recommended textbooks for you
Microeconomics
Microeconomics
Economics
ISBN:
9781337617406
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Economics (MindTap Course List)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Macroeconomics
Macroeconomics
Economics
ISBN:
9781337617390
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Microeconomics A Contemporary Intro
Microeconomics A Contemporary Intro
Economics
ISBN:
9781285635101
Author:
MCEACHERN
Publisher:
Cengage
MACROECONOMICS FOR TODAY
MACROECONOMICS FOR TODAY
Economics
ISBN:
9781337613057
Author:
Tucker
Publisher:
CENGAGE L