
Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
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Transcribed Image Text:For a product the supply curve is p = 10.0 + 0.04g and the demand curve is p = 60e - 0.0039 , where p is the price and g is the quantity sold at that price. Find
(a) the equilibrium price p
and quantity q
dollars
p
Round your answer to 2 decimal places.
units
Round your answer to the nearest integer.
(b) The consumer and producer surplus
Use rounding values from (a) to find these quantities.
Consumer surplus =
Round your answer to the nearest integer.
dollars
Producer surplus =
Round your answer to the nearest integer.
dollars
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- The demand equation for a product is as follows. q = 10/126 -p Calculate consumers' surplus under market equilibruim, which occurs at a price of $90. The consumers' surplus at equilibrium is $ (Round to the nearest cent as needed.) 9....v son shma orepo Enter your answer in the answer box. ntsarrow_forwardSuppose the demand function for a product is given by the function: D(q) = −0.016q+56 Find the Consumer's Surplus corresponding to q = 1, 450 units. (Do no rounding of results until the very end of your calculations. At that point, round to the nearest tenth, if necessary. It may help you to sketch the demand curve, which crosses the horizontal at q = 3,500.) Answer: dollarsarrow_forward
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