Pd=6√78-x
PS=3√102+x
At equilibrium Pd=PS
2√78-x=√102+x
Squaring both sides
4(78-x)=102+x
312-4x=102+x
210=5x
x=42
P=36
Producer surplus=1/2(36-3√102)42
=21×5.7
=120
Consumer surplus=1/2×(6√78-36)×42
=356
B)
Pd=PS
6√83-x=3√102+x
Squaring both sides
4(83-x)=102 +x
332-4x=102+x
X=46
P=36.5
Producer surplus=1/2(36.5-3√102)46
=143
Consumer surplus=1/2(6√83-36.5)46
=417
Take Home 3 Math 1520 1. Consumer and Producer Surplus. Round answers to the nearest whole...
Take Home 3 Math 1520 1. Consumer and Producer Surplus. Round answers to the nearest whole number. a) Find the consumer and producer surpluses at the equilibrium (X,P). P.(x)=6278 - Demand price Ps(x)=3V102 +Supply price b) Find the new equilibrium and surpluses for the outward shift in demand P. (x)=6783- Demand price Ps(x)=3 102+x Supply price
consumer and producer surplus Take Home 3 Math 1520 1. Consumer and Producer Surplus. Round answers to the nearest whole number. a) Find the consumer and producer surpluses at the equilibrium (X.P). P. (*) - 6/78 - Demand price p.(x) = 3 102+x Supply price b) Find the new equilibrium and surpluses for the outward shift in demand P. (x)=683-X Demand price Ps(x) = 3/102 + x Supply price
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Find the consumer and producer surpluses by using the demand and supply functions, where p is the price (in dollars) and x is the number of units (in millions). Demand Function Supply Function p = 1300 23x p = 42x consumer surplus producer surplus $
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