Please answer in complete solutions: Find the equilibrium price pand the equilibrium quantity x given that a.) the consumer's surplus is 1000.00 euros for the price-demand function D(x)= 20 - 0.05x . b.) the producer's surplus is 100.00 dollars for the price-supply function S(x) = 2x + 2.
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- 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 respectivelySupply and Demand Q1 Assume that the demand curve D(p) given below is the market demand for apples: Q=D(p)=280−20pQ=D(p)=280-20p, p > 0 Let the market supply of apples be given by: Q=S(p)=48+9pQ=S(p)=48+9p, p > 0 where p is the price (in dollars) and Q is the quantity. The functions D(p) and S(p) give the number of bushels demanded and supplied. What is the consumer surplus at the equilibrium price and quantity? Round the equilibrium price to the nearest cent, use that rounded price to compute the equilibrium quantity, and round the equilibrium quantity DOWN to its integer part.Maintain full precision for the vertical intercept by carrying the full fraction into your consumer surplus calculation.Please round your consumer surplus answer to the nearest integer.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 = 40x
- If the supply and demand functions are given by p=20e0.4Q and p=100e-0.2Q, respectively, find the equilibrium price and quantity, and calculate the consumer’s and producer’s surplus.he inverse demand function for portable electric heaters is P=220-Q and the supply function is P=20+3Q. Find the competitive equilibrium in the market of portable electric heaters (price and quantity) and represent it graphically. Compute the consumer surplus, producer surplus, and total welfare corresponding to the equilibrium found at point (a) and represent them on the graph. The government believes portable electric heaters are a very inefficient way of space heating. For this reason, it introduces a specific tax of 20 for each portable electric heater sold. Find the new quantity exchanged on the market after the introduction of the tax, the price paid by the buyers, and that received by the sellers. Compute the new consumer surplus, producer surplus, and total welfare after the introduction of the tax and represent them on the graph. Does the government’s intervention generate a loss of welfare? If yes, explain why and compute it. Use the price elasticity of demand and supply in…A fast-food outlet finds that the demand equation for its new side dish, "Sweetdough Tidbit," is given by p = 16 (q + 1)2 , where p is the price (in cents) per serving and q is the number of servings that can be sold per hour at this price. At the same time, the franchise is prepared to sell q = 0.5p − 1 servings per hour at a price of p cents. Find the equilibrium price p, the consumers' surplus CS and the producers' surplus PS at this price level. What is the total social gain at the equilibrium price? equilibrium price p = ¢consumers' surplusCS= ¢producers' surplusPS= ¢total social gain ¢
- 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.) $Suppose the market demand for TV remotes is given by the equation Qd = 100 – 2P, where P is the price and Qd is the number of TV remotes. If the market price of TV remotes is $40, then the quantity demanded equals _____ and the value of consumer surplus is _____. 40; $200 20; $100 100; $20 2; $40Suppose a demand function is given by p = 15 + 6000(q+25)-1 and the supply function is given by p = q+20. Find the equilibrium (correct to 1 decimal point) and hence compute either the Consumer Surplus or the Producer Surplus.
- Find the consumer and producer surpluses (in dollars) by using the demand and supply functions, where p is the price (in dollars) and x is the number of units (in millions). See Example 5. Demand Function Supply Function p = 200 − 0.2x p = 100 + 1.8xThe demand curve for a certain product is given by p(q)=573−q2. The supply curve is given by p(q)=1.2q2. Find the consumer surplus at equilibrium. The consumer surplus at equilibrium is $enter your response here. If necessary, round to two decimal places. Do not include units.The equilibrium quantity and price is 5 units and $49 dollars respectively. Demand function is p = 74 – Q2 and Supply function is P = (Q+2)2 . Calculate consumer surplus?