
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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The demand function for a type of car is given by p(x) = − 1/5 x+5000. Find the
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- Find the supply equation using the given information. (Let x be the number of items.) At a price of $1400 a supplier will supply 170 items. If the price decreases by $100, then the supplier will supply 20 fewer items. S(x) =arrow_forwardIf the demand function for a company is given by the equation p= -(16+4)q+(16+16000), and the supply is given by the equation q=(16+550)-p. Find the equilibrium point.arrow_forwardThe supply function for a product is 2p - 4 - 10 = 0. while the demand function for the same product is (p + 10)(4 + 30) = 7200. Find the market equilibrium point.arrow_forward
- 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)arrow_forwardd the consumers' surplus if the demand function for a particular beverage is given by D(q) = 2000 (2q+9)² and if the supply and demand are in equilibrium at q = 9.arrow_forwardUrban water supply has the Average Cost function AC =150/Q, and demand function Q = 18-4P; Q is quantity of water output, and P is unit price of water. (i) Obtain the Total Cost and Total Revenue Functions of water utility. (ii) Find the optimal output (Q*) of water utility. (iii) Find the optimal price (P*) of water utility.arrow_forward
- For the demand function d(x) and supply function s(x), complete the following. d(x) = 300 - 0.09x², s(x) = 0.03x² (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). $arrow_forwardThe function that relates the inverse of speed (1/S) (i.e., the time in minutes that it takes to travel 1 mile) to traffic (T) on a highway is 1/S = 4 + 0.05T. Demand for traffic (measure as traffic volume minute) on this road is T=6880-70 (1/S) Find the equilibrium traffic volume in the absence of any congestion toll. Find the marginal cost function for traffic volume, where cost is expressed as travel time per mile in minutes. per Find the optimal level of traffic volume. Find the optimal congestion toll, expressed in minutes. (Imagine that the congestion toll consists of sitting in the “penalty box" for this period of time.) The function that relates the inverse of speed (1/S) (i.e., the time in minutes that it takes to travel 1 mile) to traffic (T) on a highway is 1/S = 4 + 0.05T. Demand for traffic (measure as traffic volume per minute) on this road is T=6,880- 70-(1/S). a. Find the equilibrium traffic volume in the absence of any congestion toll. b. Find the marginal cost…arrow_forward
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