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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- 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) = 8160 - 0.3x² Supply function: s(x) = 3x Find the equilibrium quantity: Find the consumers surplus at the equilibrium quantity: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.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).
- Calculate the Consumer surplus for 28 liras in a market with the demand function, p = - (q + 2) 2 + 64.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.Find the consumers surplus at a price level of $6 for the price-demand equation p= D(x) = 20 - 0.05x
