J 7 The demand function for a certain commodity is given by the equation p = 160.04x.Exercise (a)Find the consumer surplus when the sales level x is 200.Step 1The demand function p(x) is the price per unit when x units are available.Therefore, if p(x) = 160.04x and x = 200 units are available, then the per unit price is P = $Submit Skip (you cannot come back)Exercise (b)Illustrate by drawing the demand curve and identifying the consumer surplus as an area.Step 1Recall from the previous step that the damand function finds the price per unit at a given sales level. Find this price p when the sales level x = 200.$ 6x

1(a). P(x) =16 - 0.04x, x= 200 P(200) = 16 - 0.04 x 200 = 16 - 8 = 8

Answered: The demand function for a certain…

The demand function for a certain commodity is given by the equation p = 16 -0.04x. Exercise (a) Find the consumer surplus when the sales level x is 200.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.

Question

J 7

The demand function for a certain commodity is given by the equation p = 160.04x.
Exercise (a)
Find the consumer surplus when the sales level x is 200.
Step 1
The demand function p(x) is the price per unit when x units are available.
Therefore, if p(x) = 160.04x and x = 200 units are available, then the per unit price is P = $
Submit Skip (you cannot come back)
Exercise (b)
Illustrate by drawing the demand curve and identifying the consumer surplus as an area.
Step 1
Recall from the previous step that the damand function finds the price per unit at a given sales level. Find this price p when the sales level x = 200.
$ 6
x

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