Demand for a certain product is given by the function P_d=40Q_d+3, and supply of a product, by the function P_s=3+Q_(2s). Determine the producer surplus if 4 products are produced and the price is 19. a. 11,5 b. −13,3 c. 42,7 d. 1,5
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- Producers' Surplus The demand function for a certain brand of CD is given by p = −0.01x2 − 0.2x + 7 where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. The supply function is given by p = 0.01x2 + 0.1x + 2 where p is the unit price in dollars and x stands for the quantity that will be made available in the market by the supplier, measured in units of a thousand. Determine the producers' surplus if the market price is set at the equilibrium price. (Round your answer to the nearest dollar.) $What is the consumer surplus and unmet demand in equilibrium if: Q=D(p)=1676−16pQ=D(p)=1676-16p, p > 0 Let the market supply of widgets be given by: Q=S(p)=−4+8pQ=S(p)=-4+8p, p > 0In this problem, p is in dollars and x is the number of units. If the demand function for a product is p = 28/(x + 1) and the supply function is p = 1 + 0.2x, find the consumer's surplus under pure competition. (Round your answer to two decimal places.)
- Suppose the demand for football tickets at a local college is QD=70,000−500P and the supply of tickets is QS=30,000. The market equilibrium price is $8080 and the equilibrium quantity is 30000 tickets. (Enter your responses as whole numbers.) Total economic surplus in this market is ______. (Enter your response as a whole number.)The demand function for a certain brand of CD is given by p = -0.01x^2 - 0.2x +10 where p is the unit price in dollars and x stands for the quantity that will be made available in the market by the supplier, measured in units of a thousand. Determiine the producer's surplus if the market price is set at the equilibrium price. (round answer to neareset dollar) P = 0.01x^2 + 0.4x +2In this problem, p is in dollars and x is the number of units. The demand function for a certain product is p = 194 − 2x2 and the supply function is p = x2 + 33x + 41. Find the producer's surplus at the equilibrium point. (Round x and p to two decimal places. Round your answer to the nearest cent.)
- consider the market defined by the following demand (Pd) and (Ps) functions Pd = 200-2Q and Ps = 20+3,5Q where P and Q are the price respectively. What are producer and consumer surplus of product respectivelyConsider a market for product X and demand is X = 44 - P where P is the price. If the price falls from P = $30 to P = $24, then total consumer surplus will rise byThe supply function for Gizmos is given by the equation P=0.66⋅Q+11P=0.66⋅Q+11, and the demand function is given by the equation P=13−0.34⋅QP=13-0.34⋅Q. Find the market equilibrium price for Gizmos.
- If the supply equation is P = (Q + 4)2 . find the consumer’s surplus when the consumer purchases 40 units at price $6.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: p = 1220 − 21x Supply Function: p = 40xThe Demand function for a product is pd(q) = 80(0:1q + 0:2)2, where q is in millions of tons and pd(q) is in dollars per ton. Market equilibrium occurs at the demand for 18 million tons. Compute consumer's surplus.