The Mikado miniature camera company found that consumers were willing to pay p=-0.2x2+80 dollars for x...
The Mikado miniature camera company found that consumers were willing to pay p=-0.2x2+80 dollars for x cameras and producers were willing to sell x cameras for p=0.1x2+x+40 dollars. Sketch the graph of both functions. (Carefully and meaningfully label the x and y axes, the y intercepts, and each function.)
What is the equilibrium price?_______________
What is the equilibrium quantity?_____________
Shade the region in the above graph the represents the Producer’s Surplus.
Give, and solve, (via calculator), the definite integral the represents the Producer’s Surplus.
Give the definite integral that represents the Consumers’ Surplus.
Use the Fundamental Theorem of Calculus to find the Consumers’ Surplus.
Homework Answers
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The Mikado miniature camera company found that consumers were
willing to pay p=-0.2x2+80 dollars for x...
The Mikado miniature camera company found that consumers were willing to pay P-02x+80dollars for x cameras...
The Mikado miniature camera company found that consumers were willing to pay P-02x+80dollars for x cameras and producers were willing to sell x cameras for P-01xx+40dollars. Sketch the graph of both functions. (Carefully and meaningfully label the x and y axes, the y intereepts, and each function.) What is the equilibrium price? What is the equilibrium quantity? Shade the region in the above graph the represents the Producer's Surplus. Give, and solve, (via calculator), the definite integral the represents the...
D(x) is the? price, in dollars per? unit, that consumers are willing to pay for x...
D(x) is the? price, in dollars per? unit, that consumers are
willing to pay for x units of an? item, and? S(x) is the? price, in
dollars per? unit, that producers are willing to accept for x
units. Find
?(a?) the equilibrium? point, ?(b?)the consumer surplus at the
equilibrium? point, and ?(c?) the producer surplus at the
equilibrium point.
D(x)=
D(x) is the price, in dollars per unit, that consumers are willing to pay for x...
D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. D(x)=(x-912, S(x)=x2 + 2x + 21
show work D(x)is the price, in dollars per unit, that consumers are willing to pay for...
show work
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D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a...
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D(x) = 14 – x is the price, in dollars per unit, that consumers are willing...
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The Mikado miniature camera company found that consumers were willing to pay P-02x+80dollars for x cameras and producers were willing to sell x cameras for P-01xx+40dollars. Sketch the graph of both functions. (Carefully and meaningfully label the x and y axes, the y intereepts, and each function.) What is the equilibrium price? What is the equilibrium quantity? Shade the region in the above graph the represents the Producer's Surplus. Give, and solve, (via calculator), the definite integral the represents the...
D(x) is the? price, in dollars per? unit, that consumers are
willing to pay for x units of an? item, and? S(x) is the? price, in
dollars per? unit, that producers are willing to accept for x
units. Find
?(a?) the equilibrium? point, ?(b?)the consumer surplus at the
equilibrium? point, and ?(c?) the producer surplus at the
equilibrium point.
D(x)=
D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. D(x)=(x-912, S(x)=x2 + 2x + 21
show work
D(x)is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. 1 D(x) = 5 6 3 + 12, and S(x) = ş« +5 a)Find the equilibrium point. b) Find the consumer surplus at the equilibrium point. c) Find the producer surplus at the equilibrium point.
Consumers' and Producers' Surplus The quantity demanded X (in units of a hundred) of the Sportsman 5 x 7 tents, per week, is related to the unit price p (in dollars) by the relation p = -0.1x2 - x + 40. The quantity (in units of a hundred) that the supplier is willing to make available in the market is related to the unit price by the relation p = 0.1x2 + 4x + 10. If the market price is...
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Question 1 The domestic demand function for Phone X is P = 800 - 2Q and the domestic supply for Phone X is P = 200 + 1Qs . Assuming a competitive market for Phone X: (a) Calculate the equilibrium quantity (Q*) for Phone X (show ALL calculations clearly). (b) Calculate the equilibrium price (P') for Phone X (show ALL calculations clearly). (c) At what price will the domestic quantity demanded be equal to zero (i.e., the price at which...
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