Find consumer's surplus at the market equilibrium point given that the demand function is p = /529 – 68x and the supply function is p = x + 5. Answer:
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The answer is not 106.2353 Thanks
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- Find the consumer's surplus at P=2 for the following demand function: P=8Q-2/3if the price fall from p0 to p1, the change in consumer surplus is equal to what area?Imagine the tea market has a demand function of QDX = 10 – 2PX and a supply function of QSX = PX − 2, where PX is the price of the tea. Assuming the price is at equilibrium, calculate the equilibrium price (P*). P* = _________
- Find producer's surplus at the market equilibrium point if supply function is p=3x+3 and the demand function is p = 100.8/(x+15)If the supply function for a commodity is p = q2 + 4q + 16 and the demand function is p = −8q2 + 7q + 436, find the equilibrium quantity and equilibrium price.Suppose that the demand for a good is described by the inverse demand function p = 10 - 3q and the supply of the good is given by the inverse supply function p = 2 + 2 q: Q: What price will the buyers pay (use one decimal point)? Pb= [x]
- Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX. Compute the number of units exchanged and the price at which those units will be exchanged when there is an $8 per unit price floor.For the demand function d(x) and supply function s(x), complete the following. d(x) = 600 − 0.4x, s(x) = 0.2x (a) Find the market demand (the positive value of x at which the demand function intersects the supply function).x = (b) Find the consumers' surplus at the market demand found in part (a).$ (c) Find the producers' surplus at the market demand found in part (a).$For the demand function (image 1) and supply function (image 2) a) the equilibrium price is: b)the consumers surplus under marker equilibrium, rounded to the nearest integer is: c) the producers surplus under marker equilibrium, rounded to the nearest integer is:
- Sam's is interested in two goods, X and Y. His indirect utility function is U* = M px-0.8 py0.8-1. ( same as U* = M /(px0.8 py1-0.8 ) ) where M is Sam's income, and px and py denote respectively the price of good X and the price of good Y. Sam's market demand function for good X is X*=0.8M/px . Find the absolute value of the change in Sam's consumers surplus if the price of good X rises from 1 to 4 dollars due to a per-unit tax imposed by the government, assuming his income is M=514 and price of good Y is equal to 4.The demand function for a commodity is given by D(Q)=9- 2Q and the supply function is S(Q) = 3+ Q Determine the consumers' and producers' surplus at the equilibrium price.Imagine the market for Good X has a demand function of QDX = 40 – PX and a supply function of QSX = 2PX – 20. Suppose the current price of Good X (PX) is 30. Calculate consumer surplus (CS).