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Find Consumers' surplus given the supply function S(q) = 150+ 0.05q and demand function D(q) =...
Find the consumers' surplus and the producers' surplus at the equilibrium price level for the given price-demand and price-supply equations. Include a graph that identifies the consumers' surplus and the producers' surplus. Round all values to the nearest integer. p=D(x) = 70 -0.07%; p = S(x) = 30 e 0.001x What is the consumers' surplus, CS? CS = (Round to the nearest integer as needed. Round all intermediate steps to the nearest integer.) What is the producers' surplus, PS? PS...
Given: (x is number of items) 1600 Demand function: d(2) Va Supply function: S(x) = 4vā Find the equilibrium quantity: items Find the consumers surplus at the equilibrium quantity: $
Consider the supply and demand for broadband Internet service, given as follows: Q D = 224 – 4P, and QS= 12.5P – 150 where Q is the number of subscribers in a given area (in hundreds) and P is the price in dollars per month. a. The equilibrium price of broadband Internet service b. The equilibrium quantity of broadband Internet service c. Consumer surplus d. Producer surplus e. The total surplus received by producers and consumers together
B) Find the point at which the supply & demand are in equalibrium. (type in as ordered pair) C) Find the consumer consumers surplus D) Find the producers surplus The supply function for oil is given (in dollars) by S(q), and the demand function is given (in dollars) by D(q). s(q) = q2 + 12q, D(q) = 1054 – 16q-q? a. Graph the supply and demand curves. Choose the correct graph. S(q) is the solid line, and D(q) is the...
1000 and the demand function is given by Da)+7 Completeparts a Suppose the supply function for a certain item is given by S()+7 through d below a. Graph the supply and demand curves. Choose the correct graph below ○ A. с. Ов. 10 10 10 10 14 14 14 14 b. Find the point at which supply and demand are in equilibrium. The equilibrium point is (Type an ordered pair. Simplify your answer.) c. Find the consumers' surplus The consumers'...
The Demand and Supply functions, D (a) and S(9), for a particular commodity are given. Specifically, thousand units of the commodity will be demanded (sold) at a price of p= D (a) dollars per unit, while a thousand units will be supplied by producers when the price is p = S(q) dollars per unit. Find the consumers' surplus and the producers' surplus at equilibrium. D(q) = 65 - q'; $(a) = 12 + 2q + 5 O CS - $144,000;...
1. Given supply curve: P-5Q; and demand curve: P- 150- Q А. Calculate the consumer surplus if this market is in competitive equilibrium. В. competitive equilibrium. What is the Total surplus if this market is in Calculate the producer surplus if this market is in С. competitive equilibrium. D. Suppose the market price is $75, calculate the producer, consumer, and total surplus.
Given: (x is number of items) Demand function: d(x)=300−0.2x Supply function: s(x)=0.6x Find the equilibrium quantity: Find the producers surplus at the equilibrium quantity: Due Given: (x is number of items) Demand function: d(2) = 300 - 0.23 Supply function: 8(x) = 0.6 Find the equilibrium quantity: Preview Find the producers surplus at the equilibrium quantity: Preview Get help: Video Points possible: 10 Unlimited attempts. Submit
The inverse demand function of a group of consumers for a given type of widgets is given by the following expression: 2.2 π=-104 + 2000 (S) 2.3 2.4 and 2.5 Economists estimate that the supply function for the widget market is given by the following expression: 2.3 4-0.2--40 a Calculate the demand and price at the market equilibrium if the demand is as defined in Problem 2.2 b For this equilibrium, calculate the consumers' gross surplus, the consumers' net surplus,...
Given: (x is number of items) Demand function: d(2) = 200 - 0.6x Supply function: 8(x) = 0.2x Find the equilibrium quantity: Preview Find the consumers surplus at the equilibrium quantity: Preview