Let D(x) =40 -4X be the proce in dollar per unit that consumer are willing to pay X unit of an item and let S(X) =6x be the price in dollar per unit producer are willing to accept for x units. The quantity x at market equilibruim is....... The consumer surplus at market equilibrium is ....

Q: Assume that the market can be represented by the supply and demanc curves: Qs = 6P-60 QD=60-4P If…

A: Disequilibrium refers to an imbalance between the quantity demanded and the quantity supplied, at a…

Q: If the consumer surplus of a buyer is $7 and the market price is $30 What would be the maximum…

A: The data presented in the question is:- Consumer surplus = $7 Market price = $30 Maximum willingness…

Q: The market equilibrium price is the price for which (Need help? Read chapter 4.2 of the textbook,…

A: Market equilibrium is that condition where market Demand is equal to market supply. And at that…

Q: Suppose that the supply function of some commodity is S(q) = q +5q+100 , and the demand function for…

A: Cosnumer surplus= q∗∫0d(q)dq−p∗q∗

Q: A situation is a pareto efficient if a) consumer surplus is maximized b) it is possible to make…

A: The economy is said to be in a Pareto optimum state when no economic adjustments can make one person…

Q: Region A (the purple shaded area) represents the total producer surplus when the market price is $…

A: Meaning of Producer Behavior: The term producer behavior refers to the situation under which a…

Q: Supply and demand functions for a product are: q = 50 (70 – 2p) and q = 70 (p – 2), where p =…

A: The law of demand refers to the inverse or negative relationship between the quantity demanded of a…

Q: C. Suppose that for Q units of a certain product, the demand function is P = 200e010 cedis and the…

A: Given information Demand function P=200e-0.01Q Supply function P=(200Q+49)0.5

Q: Known functions of supply and demand for a product are: q = 50 (82 – 2p) and q = 82 (p - 2), where p…

A: Consumer surplus is the area under the demand curve and above the market price. Producer surplus is…

Q: Suppose demand and supply are given by Qd = 60 - P and Qs  = P - 10. Suppose that new consumers…

A: The equilibrium in the market is at the quantity demanded equal to quantity supplied. The producer…

Q: An Edgeworth box is shown for individuals M and N. In total, there are 100 units of good 'X and 80…

A: Edgeworth box represents the pareto efficient allocation. It represents the indifference curve of 2…

Q: a b d D Quantity Price

A: Equilibrium is achieved at a point where demand curve intersects supply curve.

Q: Suppose the inverse supply curve in a market is Q = 6p 2. What is the producer surplus when price is…

A: here we calculate the producer surplus and choose the correct option so the calculation of the…

Q: Suppose the demand for shoes is given by: Qp= 210-2P. The supply of shoes is given by Q = 9P-120.…

A: Economic surplus refers to two related quantities: consumer surplus and producer surplus. The…

Q: If the inverse demand function for toasters is p= 70- 20. what is the consumer surplus if price is…

A: Consumer surplus is an economic measurement of consumer benefits and Consumer surplus is measured as…

Q: If the supply and demand functions are given by  p=20e0.4Q and p=100e-0.2Q, respectively, find the…

A: Answer: Given, Supply function: p=20e0.4Q Supply function: p=100e-0.2Q Note: the values will be in…

Q: The Demand function for a product is pd(q) = 80(0:1q + 0:2)2, where q is in millions of tons and…

A: Given:Demand function, P(q) = 800.1q+0.22Equilibrium quantity, q = 18

Q: The demand and supply functions for front stalls concert tickets is given by the equations P = 400 –…

A: The law of demand establishes that prices and quantity demanded are inversely related to each other.…

Q: Let D(r) = (x – 3)² be the price, in dollas per unit, that consumers are willing to pay for r units…

A: Equilibrium point                                  D(X)=S(X)…

Q: Suppose your economist tells you the "free-market" demand for X is given by: P=30 - 3X; and the…

A: At the free market, i.e., competitive market, there are infinite number of buyers and sellers, whose…

Q: The equilibirum quantity and price is 5 units and $49 dollars respectivily. Demand function is p =…

A: Equilibrium quantity, Qe = 5 Equilibrium Price, Pe = $49 Demand function is p = 74 – Q2 Supply…

Q: If the supply curve is q = 4 + 2p, what is the producer surplus if the price is p = 12? Producer…

A: Producer surplus is the difference between market price and minimum price producers are willing to…

Q: b) Given, respectively, an inverse market demand and supply for a good as D(Q) = -0.025Q2 – 0.5Q +…

A: The equilibrium price is the only price at which consumers' and producers' plans coincide—that is,…

Q: Assuming this market is at equilibrium, the consumer surplus is $ _______. a) 9 b) 12 c) 21 d) 54 e)…

A: Consumer surplus (CS) = area between demand curve and equilibrium price In graph, equilibrium is at…

Q: Consumer surplus Multiple Choice O is the difference between the maximum prices consumers are…

A: Consumer Surplus refers to the difference between the highest price a consumer is willing to pay and…

Q: Consider the inverse demand and supply for dates to be given by P= 3o-3Qd and P= 6+ Qs. The total…

A: Consumer surplus is the difference between the maximum price the consumer is willing to pay and the…

Q: C. Suppose that for Q units of a certain product, the demand function is P = 200e0010 cedis and the…

A: Given information Demand function P=200e-0.01Q Supply function P=(200Q+49)0.5

Q: Assume an equilibrium price of $7 and equilibrium quantity of 8 units at demand D and supply S2 in…

A: The equilibrium price is the only price where the plans of consumers and the plans of producers…

Q: For the market for bananas, the demand and supply functions are represented by the following two…

A: At equilibrium, Quantity Demanded = Quantity Supplied 200-2Q = 20+4Q 180 = 6Q Q = 30   Since, P =…

Q: Find the producers' surplus if the supply function for pork bellies is given by the following. 5/2…

A: S(q) = q^(5/2) + 2q(3/2) + 54  Equilibrium quantity = 16

Q: Refer to Exhibit 6.8, which shows the market equilibrium for opera tickets. The demand curve for…

A: Consumer surplus is the surplus which is earned by the consumer due to the difference in their…

Q: Consider the inverse demand and supply for dates to be given by  P=30-3Qd and P=6+Qs The total…

A:

Q: The total surplus (consumer surplus plus producer surplus) is greatest when which of the following…

A: Equilibrium is achieved at a point where demand curve intersects supply curve.

Q: Suppose the equation of the demand curve were P=100-(Q/2). If the price of the apples were $40, then…

A: Consumer surplus measure of a consumer excess benefit. It is calculated by observing the difference…

Q: If the demand function for a product is p = D (q) = 45 – 0.18q² and the supply function is p = S (q)…

A: Given: Demand function P = D(q) = 45 - 0.18q2 Supply function P = S(q) = 0.12q2 + 1.5q

Q: The consumer surplus enjoyed by the winner of a first-price auction is equal to the difference…

A: Consumer surplus = Price that the consumer is maximum willing to pay - Price that the consumer…

Q: The supply curve for product X is given by Qxs = −520 + 20 Px . a. Find the inverse supply curve. b.…

A: a. The inverse supply function of a given supply curve for the product X is can be represents as…

Q: he number of units (in millions).   Demand Function: p = 1220 − 21x Supply Function: p = 40x

A: Equilibrium indicates the situation where quantity(Q) demanded equals quantity(Q) supplied. The…

Q: For the demand function, q = 5p¬1/2 – 1, find the increase in consumer surplus that would arise if…

A: Theoretically,  the difference between the maximum price that consumers are willing to pay and the…

Q: Find consumer's surplus at the market equilibrium point given that the demand function is p = V961 –…

A:

Q: Given demand function p = 25 – q² . Find the consumer surplus if goods are given for free. %3D

A: Consumer surplus is measured because the area below the downward-sloping demand curve, or the…

Q: For a certain product, the demand function is D(Q)=800-82Q and the supply function is S(Q)=80+Q2.…

A: Given: D(Q)=800-80QS(Q)=80+Q2

Q: Find consumer's surplus at the market equilibrium point given that the demand function is p= v225 –…

A: Demand function : p = √ 225 - 48 X  Supply function : p  = X + 6  Equating demand and supply  √ 225…

Q: Save if the inverse demand function for toasters is p = 85 - 2Q what is the consumer surplus if the…

A:

Q: Given the following supply and demand function, the total economic surplus under the market…

A: At the market equilibrium, Supply = Demand 1.7Q + 4 = -0.9 Q + 22 2.6 Q =18 Q* = 6.92 P = 1.7 (6.92)…

Q: Suppose the supply function for X good is expressed as Q X = - 20 + 4P x . If the price of X good…

A: Here, supply function is given as: QX=-20+4Px To find: producer surplus when price changed from 8…