Calculate the consumers' surplus at the indicated unit price p for the demand equation. HINT [See Example 1.] (Round your answer to the nearest cent.) p = 16 – 2q; p = 5 $
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![Calculate the consumers' surplus at the indicated unit price p for the demand equation. HINT [See Example 1.] (Round your answer to the nearest cent.)
p = 16 – 2q; p = 5
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- SKILL BUILDING EXERCISES HarvestingWhat is the name of the theory that says that a renewable resource growing logistically should be harvested at half of the carrying capacity?Calculate the consumers' surplus at the indicated unit price p for the demand equation. HINT [See Example 1.] (Round your answer to the nearest cent.) p = 400e−2q; p = 150Calculate the consumers' surplus at the indicated unit price p for the demand equation. HINT [See Example 1.] (Round your answer to the nearest cent.) p = 20 − 2q; p = 6
- Find the consumers' surplus at a price level of p=$150 for the price-demand equation below. p=D(x)=300−0.05x Part 1 What is the consumer surplus?Find the consumers' surplus at a price level of p=$150 for the price-demand equation below. p=D(x)=200−0.05x Question content area bottom Part 1 What is the consumer surplus? $enter your response hereAssume that the demand for tuna in a small coastal town is given by p = 600,000 q1.5 , where q is the number of pounds of tuna that can be sold in a month at p dollars per pound. Assume that the town's fishery wishes to sell at least 5,000 pounds of tuna per month. (a) How much should the town's fishery charge for tuna to maximize monthly revenue? HINT [See Example 3, and don't neglect endpoints.] (Round your answer to the nearest cent.)p = $ per lb(b) How much tuna will it sell per month at that price?q = lb(c) What will be its resulting revenue? (Round your answer to the nearest dollar.)$ per month
- Assume that the demand for tuna in a small coastal town is given by p = 450,000 q1.5 , where q is the number of pounds of tuna that can be sold in a month at p dollars per pound. Assume that the town's fishery wishes to sell at least 5,000 pounds of tuna per month. (a) How much should the town's fishery charge for tuna to maximize monthly revenue? HINT [See Example 3, and don't neglect endpoints.] (Round your answer to the nearest cent.) p =. $ per lb b) How much tuna will it sell per month at that price? q= (c) What will be its resulting revenue? (Round your answer to the nearest dollar.) $/ month =What is the consumer surplus when the inverse demand curve is defined by P=1000-((Qd)^2) and the equilibrium quantity level is 3? Hint 1: Calculate the area under the Demand curve from 0 to 3. Hint 2: Calculate TR. Hint 3: Area under- TR Answer:Calculate the consumers' surplus at the indicated unit price p for the demand equation. (Round your answer to the nearest cent.) p = 300e−2q; p = 150
- Use the price-demand equation below to find E(p), the elasticity of demand. x=f(p)=15,000−175p Question content area bottom Part 1 E(p)=enter your response here (Simplify your answer.)You owe $25 000 on a credit card that charges 1.5% interest each month. You can pay $2 500 each month with no new charges. What is the equilibrium value? What does the equilibrium value mean in terms of the credit card? Build a numerical solution. When will the account be paid off? How much is the last payment?Find the daily consumer surplus if the demand equation is given by p=−0.3·q+120, and the business sells the items at $3.