9. Find the consumer and producer surpluses where p = -0.00625x3 + 100 is the demand...
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 $
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 = 270 − x p = 120 + x consumer surplus $ millions producer surplus $ millions
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
please explain how to find the consumer and producer surpluses 10) The government decides to introduce a tax of $2.5 on the sellers of the good depicted in the following figure. How would you modify the graph to reflect the tax? What price will the sellers end up receiving for one unit of the good? How much will the buyers end up paying? How much will the deadweight loss be? How much revenues will the government raise through the tax?...
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
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). Po(x) =678 - Demand price P:() -37102+x Supply price H S b) Find the new equilibrium and surpluses for the outward shift in demand p.(x)=6V83-* Demand price on VoltaRO TVATROSMI P.(x) = 3102 +* Supply price d on o wboy Page 2 of 8
2. Suppose the individual demand for consumer 1 is D1(p)=200-4p and for consumer 2 is D2(p)=125-2.5p. Assume there is only one producer in the economy who supplies S(p). a. Graph the individual demand curves as well as the resulting market demand curve. Mark the intercepts correctly. b. What is the price elasticity of the Market Demand at p=10? c. If supply is given by p = 40, find the amount purchased by each consumer. Illustrate your answer graphically. d. If...
1. Calculate consumer surpluses for the following demand functions and prices: a. D:Q^D=30-5p^D;P*=2 b. D:Q^D=20-4P^D;P*=3 1b. Calculate producer surpluses for the following supply functions and prices: a. S:Q^s=-3+P^s;P=6 b. S:Q^s=-12+3P^s;P*=10
2. Consider the market demand and supply functions are: QD-2,000-500P and Os = 100 P +800. Calculate the consumer and producer surplus. 2. Consider the market demand and supply functions are: QD-2,000-500P and Os = 100 P +800. Calculate the consumer and producer surplus.
Identify the Surpluses. The graph to the right shows a supply curve and a demand curve and several areas in between. Identify the areas on the figure that represent the following: Consumer and producer surplus a. Consumer surplus in the market equilibrium: b. Producer surplus in the market equilibrium: 18 c. Total surplus in the market equilibrium: Price Supply d. Consumer surplus when the price is $6 V e. Producer surplus when the price is $6: V Demand price is...