(1 point) Find producer's surplus at the market equilibrium point if supply function is p = 0.8x + 3 and the demand function is p = 150.4 +8 Answer:
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- Suppose the demand function for a product is given by the function: D(q) = -0.014g + 54.6 Find the Consumer's Surplus corresponding to q = 1,400 units. (Do no rounding of results until the very end of your calculations. At that point, round to the nearest tenth, if necessary. It may help you to sketch the demand curve, which crosses the horizontal at q = 3,900.) Answer: dollarsThe demand and supply functions for a particular commodity are D(x) = 80e-0.001x and S(x)= 30e0.001r , where x is the number of units of the product, D(x) is the price that results in a consumer demand of x units and S(x) is the price that results in a producer supply of x units. a. Find the equilibrium point using your calculator and identify the equilibrium units and price. Give your answers to the nearest whole unit and nearest dollar. The value of x at equilibrium is units. The value of p at equilibrium is b. Determine the consumers' surplus.Suppose the demand function is linear. At p = 8, quantity demanded is Q = 16. At p = 15, quantity demanded is Q = 10. For the price increase from 8 to 15, the loss in consumer surplus due to fewer goods being purchased is -- surplus due to a higher price on the goods still purchased is and the loss in consumer
- For the supply function, s (x) = 100 – 100e 0.02 and the demand function, d (x) = 300e-0.01r %3D a) Find the market demand (the positive value of x at which the demand function intersects the supply function using your calculator). Round your answer to 2 decimal places. b) Find the consumers' surplus at the market demand found in part a). Round your answer to 2 decimal places. c) Find the producers' surplus at the market demand found in part a). Round your answer to 2 decimal places.The demand for a particular item is given by the function D(x) = 1, 500 – 3x² . Find the consumer's surplus if %3D the equilibrium price of a unit $300. The consumer's surplus is $Consider the demand function for processed pork in Canada, Q = 590.00 – 36p + 20p, + 3p. + 0.002Y The supply function for processed pork in Canada is: Q = 442.00 + 52p – 60pn p is the price of pork Ph is the price of beef = $4 per kg Q is the quantity of pork demanded. Pe is the price of chicken = $3 per kg Y is the income of consumers = $12,500 Ph is the price of a hog = $1.50 per kg (measured in millions of kg per year) Solve for the equilibrium price and quantity for pork. The equilibrium price of pork is $ and the equilibrium quantity of pork is million kg per year. (Enter numeric responses using real numbers rounded to two decimal places.) étv 30 MacBook Air DII DD 08 F10 F9 F7 FB esc F4 F5 F6 F2 F3 F1 & @ #3 2$ 3 4 7 8 1 W Y * 00
- C. Suppose that for Q units of a certain product, the demand function is P = 200e 0.010 cedis and the supply function is = 200Q+49 cedis. a) Find the market equilibrium point. b) Find the consumer's surplus. c) Find the producer's surplus.c) The supply function for a thermal underwear is Qs=-200 +150p. Find the minimum price (P-intercept) at which producers will begin to consider selling thermal underwear.A company that makes sweatshirts is willing to supply 156 sweatshirts each month if the price is $24 each and will supply 204 sweatshirts each month if the price is $36 each. Find the linear supply function, qS where qS is the number of sweatshirts the company is willing to make available per month at a price of p dollars per sweatshirt. A.qS = 12p + 48 B.qS = p/12 – 48 C.qS = 0.25p – 15 D.qS = 4p + 60
- Consider the demand function for processed pork in Canada, Q= 171- 20p + 20p, + 3p, + 0.002Y where Q is the quantity of pork demanded (measured millions of kg per year), p is the price of pork, P. is the price of beef, p, is the price of chicken, and Y is the income of consumers. If the price of beef decreases from $4 per kg. to $2.53 per kg., then the demand curve for processed pork will shift to the left by million kg. per year. (Enter a numeric response using a real number rounded to two decimal places.) tv MacBook Air DII DD 80 esc F6 F7 F9 F10 F12 FI F3 @ $ % & 1 2 3 4 6 7 8 de Q W E R T Y P qe A F J K ck ? .. ..3. Derive the MR function for the demand function q = 400 - 0.1p.Consider the demand function for processed pork in Canada, Q= 171- 20p + 20p, + 3p. + 0.002Y where Q is the quantity of pork demanded (measured in millions of kg per year), p is the price of pork, p, is the price of beef, p. is the price of chicken, and Y is the income of consumers. If the price of beef decreases from $4 per kg. to $2.53 per kg., then the demand curve for processed pork will shift to the right left : 30 étv Help Me Solve This eText Paui. ar All MacBook Air esc 80 F1 DI DD F2 F3 F5 F6 F7 F8 F9 F10 @ #3 & 1 2 3 4 6. 7 8 Q W E R T Y tab P 多: