The demand curve for a certain product is given by p(q)=573−q2. The supply curve is given by p(q)=1.2q2. Find the consumer surplus at equilibrium.

Q: If Demand Function is P=25-3Q Then What is value of P at Q=5 Find the Consumer's Surplus at Q=5

A: Demand function represents the relationship between price and quantity of a commodity. According to…

Q: If the supply equation is P = (Q + 4)2 . find the consumer’s surplus when the consumer purchases 40…

A: Consumer surplus is the difference between what the consumer wants to pay and what the consumer…

Q: Consider the demand function D(p) = 99.0 - 4.0p. When the price changes from p1 = 4.0 to p2 = 8.0,…

A: Consumer surplus refers to the area above the price and below the demand curve. It is the difference…

Q: Consider the supply and demand curves illustrated below. Price P₁ P₂ PPP Q3 Quantity Which of the…

A: Detailed Explanation: The graph depicts the interaction between supply and demand for a particular…

Q: Calculate the Consumer surplus for 28 liras in a market with the demand function, p = - (q + 2) 2 +…

A: The difference between the price that customers pay and a particular price that they are willing to…

Q: (1 point) Find producer's surplus at the market equilibrium point if supply function is p = 0.8x + 3…

A: 1.Find equilibrium quantity (x): 𝑥≈10.31x≈10.312.Find equilibrium price (p):…

Q: A consumer has iniverse demand oft p= 15-0.5q for a good and the market price is 53.00, Calculate…

A:

Q: C. Suppose that for Q units of a certain product, the demand function is P = 200e010 cedis and the…

A: Given information Demand function P=200e-0.01Q Supply function P=(200Q+49)0.5

Q: .Given a demand curve of P = 21-5QD and a market price P of $8, how much is the consumer surplus?…

A: The market demand is given as The market price is given as $8.

Q: A consumer has inverse demand of       p=15−1q       for a good and the market price is…

A: Consumer Surplus: Consumer surplus is the net benefits that the consumer receives by purchasing…

Q: Consumer surplus is $ 1.00. (Enter your response rounded to two decimal places.) (Enter your…

A: ​Consumer surplus is the difference between the consumer's willing to pay and the actual price paid…

Q: Suppose a producer sells 1,000 units of a product at $5 per unit one year, 2,000 units at $8 the…

A: We are aware that the price and quantity of a thing are inversely related as stated by the law of…

Q: consumer has inverse demand of   p=15−1q   for a good and the market price is   ​$4.00.…

A: Consumer surplus is the difference between maximum price willing to pay and the market price.

Q: Calculate the producers' surplus (in dollars) for the supply equation at the indicated unit price p.…

A: Given: Supply function

Q: Given a demand equation P=2-10Q and a supply equation P=0.50+10Q. The equilibrium price and quantity…

A: Demand Curve given as P = 2 - 10Q Supply Curve Given as P = 0.50 + 10Q

Q: Find the consumers' surplus at a price level of $6 for the price-demand equation p= D(z) = 21-0.5z…

A: Demand curve is the downward sloping curve.  Equilibrium is where the demand curve intersects the…

Q: Suppose that the demand for Prada scarves is given by Q = 53 - P and the supply of these scarves is…

A: Consumer surplus is the extra benefit enjoyed by the consumer in the market who pay less to the…

Q: With its new global mobile phone service, Ultra Mobile offers the following price schedule: Your…

A: Consumer surplus is the difference between the highest price a consumer is willing to pay and the…

Q: Question content area Part 1 The demand curve for a certain product is given by p(q)=577−q2. The…

A: The graphical representation of price and quantity demanded is termed as the Demand curve The…

Q: If we know that the demand function of a product is Qd-100-P, where P is the price per product…

A: Consumer surplus is the difference between the price a consumer is willing to pay and the actual…

Q: 1.3 If the inverse demand function for radios is - p= a bq, what is the consumer surplus if the…

A: If the equilibrium price is a/2 then we find the quantity at that price so we replace this in the…

Q: If the inverse demand function for toasters is p=70-Q. what is the consumer surplus if price is $25?…

A: Consumer surplus occurs when the price consumer pay for the goods and services is less than they…

Q: 7. The demand function of a commodity is given by p= 40 -0.1x -0.01x², x20; and the supply function…

A: Demand equation: p=40-0.1x-0.01x2       .... (1) Supply equation: ps=0.1x+0.01x2               ....…

Q: Find the consumers' surplus at a price level of p = $130 for the price-demand equation below. p=…

A:

Q: The equilibirum quantity and price is 5 units and $49 dollars respectivily. Demand function is p =…

A: Equilibrium quantity, Qe = 5 Equilibrium Price, Pe = $49 Demand function is p = 74 – Q2 Supply…

Q: 6) The quantity demanded of a certain brand of smart phone is 2000 per week when the unit price is…

A: Demand: Demand for a commodity can be defined as the desire or willingness by a consumer to acquire…

Q: Calculate the consumers' surplus at the indicated unit price p for the demand equation. HINT [See…

A: Consumer surplus refer to the area under the demand curve which is the difference between what a…

Q: = 1, 500 – 3x² . Find the consumer's surplus if The demand for a particular item is given by the…

A: Answer to the question is as follows :

Q: C. Suppose that for Q units of a certain product, the demand function is P = 200e0010 cedis and the…

A: Given information Demand function P=200e-0.01Q Supply function P=(200Q+49)0.5

Q: The consumer surplus for John is $10 and his maximum willingness to pay for the product is $30…

A: The information being given is:- Consumer surplus = $10 Maximum willingness to pay = $30 We have to…

Q: Calculate the Producer Surplus for the above diagram assuming the price is P1 with two decimal…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Suppose the market for banana bread is perfectly competitive, so sellers take the market price as…

A: Produce surplus is the difference between the price at which the supplier is willing to sell a…

Q: Consumer surplus is defined as the area between below the Demand function and above the Supply…

A: Consumer surplus arises when market price is less than maximum price consumers are willing to pay.

Q: Consider the following demand and supply functions. D(x) = 83-0.4x, S(x) = 2x + 75.8,0 ≤ x ≤ 90 Step…

A: The consumer surplus alludes to the contrast between the thing a consumer will pay and what they…

Q: Calculate the consumers' surplus at the indicated unit price p for the demand equation. HINT [See…

A: Given:P=5P=8-2q5=8-2q2q=8-52q=3q=32q=1.5