a) Detemine the price of equilibricm ofa cookieif Pm= 34 and R=100bAT the equilibrium,determine the consumerSurplus.At the equihbrium,detemine the producécSurplusdAT the equilibrium, determine the totalsuplos. Qdb=D -5Pb+5Pm +0,05 R+ 25Qob=10P6Qdb3 Quantity asked for chocolate .cookies.Pb= The price of the chocolat cookie()Pm= The price ofa muffin )R= The revenue ()Qob%3DThe quantity offeced of the chocolote cootie.%3D

Qdb = -5Pb + 5Pm + 0.05 R + 25 Now, given that Pm = 3 and R = 100 So, putting values of Pm and R in…

Answered: Delemine the price of equilibricon ofa…

Delemine the price of equilibricon ofa cookie if Pm= 3 and R=100$ AT the equilibrium,detemine the consumer Surplus. At the equihbrium,detemine the producer Surplus

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

a) Detemine the price of equilibricm ofa cookie
if Pm= 34 and R=100
bAT the equilibrium,determine the consumer
Surplus.
At the equihbrium,detemine the producéc
Surplus
dAT the equilibrium, determine the totalsuplos.

Qdb=D -5Pb+5Pm +0,05 R+ 25
Qob=10P6
Qdb3 Quantity asked for chocolate .cookies.
Pb= The price of the chocolat cookie()
Pm= The price ofa muffin )
R= The revenue ()
Qob%3DThe quantity offeced of the chocolote cootie.
%3D

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