WebAssign Printed Access Card for Harshbarger/Reynolds' Mathematical Applications for the Management, Life, and Social Sciences, 12th Edition, Multi-Term
12th Edition
ISBN: 9781337630542
Author: Ronald J. Harshbarger, James J. Reynolds
Publisher: Cengage Learning
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Question
Chapter 13, Problem 47RE
(a)
To determine
To calculate: The market equilibrium if the demand function of a product is provided by
(b)
To determine
To calculate: The consumer’s surplus at market equilibrium if the demand function of a product is provided by
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If the market price of a product is above the equilibrium price, the quantity supplied is _____ the quantity demanded.
equal to
Market price and quantity supply are not related.
greater than
less than
Example 2: The firm's monthly cash required is 730,000. The fixed cost per transaction done by the firm is 5. The
rate of interest on marketable securities is 3% p.a. Calculate the optimum cash balance required by the firm.
Fixed cost per transaction (c)
Monthly Total Cash Requirement (T)
Interest rate on marketable securities (k)
75
730,000
3% p.a.
%3D
Supply and demand are both key concepts to understanding the economy because they reflect the prices
and quantities of consumer goods and services. According to market economy theory, the relationship between
supply and demand balances out at a point in the future; this point is called the equilibrium price.
A consumer surplus occurs when the price that consumers pay for a product or service is less than the price
they're willing to pay. A producer surplus is the total amount that a producer benefits from producing and
selling a quantity of a good at the market price. Both can be represented by areas between the supply and demand
curves as shown in the sample figure.
15
and the supply curve y =
15x
Find the consumer surplus and producer surplus for the demand curve y =
x² +1
x² +1°
(a) Sketch the graphs and shade the appropriate regions.
Find the equilibrium point, (xo, Po).
Consumer
Supply
surplus
curve
Point of
equilibrium
Po
(Xg. P)
Producer
Demand
curve
surplus
(b) Find the…
Chapter 13 Solutions
WebAssign Printed Access Card for Harshbarger/Reynolds' Mathematical Applications for the Management, Life, and Social Sciences, 12th Edition, Multi-Term
Ch. 13.1 - CHECKPOINT
1. For the interval [0, 2]. determine...Ch. 13.1 - Prob. 2CPCh. 13.1 - Prob. 1ECh. 13.1 - Prob. 2ECh. 13.1 - Prob. 3ECh. 13.1 - Prob. 4ECh. 13.1 - Prob. 5ECh. 13.1 - Prob. 6ECh. 13.1 - Prob. 7ECh. 13.1 - Prob. 8E
Ch. 13.1 - Prob. 9ECh. 13.1 - Prob. 10ECh. 13.1 - Prob. 11ECh. 13.1 - Prob. 12ECh. 13.1 - Prob. 13ECh. 13.1 - Prob. 14ECh. 13.1 - In Problems 14-19, find the value of each sum.
15....Ch. 13.1 - Prob. 16ECh. 13.1 - Prob. 17ECh. 13.1 - Prob. 18ECh. 13.1 - Prob. 19ECh. 13.1 - Prob. 20ECh. 13.1 - Prob. 21ECh. 13.1 - Prob. 22ECh. 13.1 - Prob. 23ECh. 13.1 - Prob. 24ECh. 13.1 - Prob. 25ECh. 13.1 - Prob. 26ECh. 13.1 - Prob. 27ECh. 13.1 - Prob. 28ECh. 13.1 - Prob. 29ECh. 13.1 - Prob. 30ECh. 13.1 - Prob. 31ECh. 13.1 - Prob. 32ECh. 13.1 - Prob. 33ECh. 13.1 - Prob. 34ECh. 13.1 - Prob. 35ECh. 13.1 - 36. Speed trials The figure gives the time it...Ch. 13.1 - Prob. 37ECh. 13.1 - 38. Drug levels in the blood The manufacturer of a...Ch. 13.1 - Prob. 39ECh. 13.1 - Prob. 40ECh. 13.2 - CHECKPOINT
1. True or false:
(a) For any integral,...Ch. 13.2 - Prob. 2CPCh. 13.2 - Evaluate the definite integrals in Problems...Ch. 13.2 - Prob. 2ECh. 13.2 - Prob. 3ECh. 13.2 - Prob. 4ECh. 13.2 - Prob. 5ECh. 13.2 - Prob. 6ECh. 13.2 - Prob. 7ECh. 13.2 - Prob. 8ECh. 13.2 - Prob. 9ECh. 13.2 - Prob. 10ECh. 13.2 - Prob. 11ECh. 13.2 - Prob. 12ECh. 13.2 - Evaluate the definite integrals in Problems...Ch. 13.2 - Prob. 14ECh. 13.2 - Prob. 15ECh. 13.2 - Evaluate the definite integrals in Problems...Ch. 13.2 - Evaluate the definite integrals in Problems...Ch. 13.2 - Prob. 18ECh. 13.2 - Prob. 19ECh. 13.2 - Prob. 20ECh. 13.2 - Prob. 21ECh. 13.2 - Prob. 22ECh. 13.2 - Prob. 23ECh. 13.2 - Prob. 24ECh. 13.2 - Evaluate the definite integrals in Problems...Ch. 13.2 - Prob. 26ECh. 13.2 - Evaluate the definite integrals in Problems...Ch. 13.2 - Prob. 28ECh. 13.2 - Prob. 29ECh. 13.2 - Prob. 30ECh. 13.2 - Prob. 31ECh. 13.2 - Evaluate the definite integrals in Problems...Ch. 13.2 - Prob. 33ECh. 13.2 - Prob. 34ECh. 13.2 - Prob. 35ECh. 13.2 - Prob. 36ECh. 13.2 - Prob. 37ECh. 13.2 - Prob. 38ECh. 13.2 - In Problems 39-42, (a) write the integral that...Ch. 13.2 - Prob. 40ECh. 13.2 - In Problems 39-42, (a) write the integral that...Ch. 13.2 - In Problems 39-42, (a) write the integral that...Ch. 13.2 - Prob. 43ECh. 13.2 - 44. Find the area between the curve and the...Ch. 13.2 - Prob. 45ECh. 13.2 - 46. Find the area between the curve and the...Ch. 13.2 - Prob. 47ECh. 13.2 - Prob. 48ECh. 13.2 - Prob. 49ECh. 13.2 - Prob. 50ECh. 13.2 - Prob. 51ECh. 13.2 - Prob. 52ECh. 13.2 - Prob. 53ECh. 13.2 - Prob. 54ECh. 13.2 - 55. Depreciation The rate of depreciation of a...Ch. 13.2 - 56. Depreciation The rate of depreciation of a...Ch. 13.2 - 57. Sales and advertising A store finds that its...Ch. 13.2 - 58. Health care costs The U.S. total annual health...Ch. 13.2 - 59. Total income The income from an oil change...Ch. 13.2 - 60. Total income Suppose that a vending machine...Ch. 13.2 - Prob. 61ECh. 13.2 - Prob. 62ECh. 13.2 - Prob. 63ECh. 13.2 - Prob. 64ECh. 13.2 - Prob. 65ECh. 13.2 - Prob. 66ECh. 13.2 - 67. Testing The time t (in minutes) needed to read...Ch. 13.2 - 68. Response time In a small city, the response...Ch. 13.2 - Prob. 69ECh. 13.2 - 70. Product life The useful life of a car battery...Ch. 13.2 - Prob. 71ECh. 13.2 - 72. Psychology In a study of intelligence, the...Ch. 13.3 - CHECKPOINT
1. True or false:
(a) Over the interval...Ch. 13.3 - Prob. 2CPCh. 13.3 - Prob. 3CPCh. 13.3 - For each shaded region in Problems 1-6, (a) form...Ch. 13.3 - For each shaded region in Problems 1-6, (a) form...Ch. 13.3 - For each shaded region in Problems 1-6, (a) form...Ch. 13.3 - For each shaded region in Problems 1-6, (a) form...Ch. 13.3 - Prob. 5ECh. 13.3 - For each shaded region in Problems 1-6, (a) form...Ch. 13.3 - For each shaded region in Problems 7-12, (a) find...Ch. 13.3 - For each shaded region in Problems 7-12, (a) find...Ch. 13.3 - Prob. 9ECh. 13.3 - Prob. 10ECh. 13.3 - For each shaded region in Problems 7-12, (a) find...Ch. 13.3 - Prob. 12ECh. 13.3 - In Problems 13-26, equations are given whose...Ch. 13.3 - Prob. 14ECh. 13.3 - In Problems 13-26, equations are given whose...Ch. 13.3 - Prob. 16ECh. 13.3 - Prob. 17ECh. 13.3 - Prob. 18ECh. 13.3 - Prob. 19ECh. 13.3 - Prob. 20ECh. 13.3 - Prob. 21ECh. 13.3 - Prob. 22ECh. 13.3 - Prob. 23ECh. 13.3 - In Problems 13-26, equations are given whose...Ch. 13.3 - Prob. 25ECh. 13.3 - Prob. 26ECh. 13.3 - Prob. 27ECh. 13.3 - Prob. 28ECh. 13.3 - Prob. 29ECh. 13.3 - In Problems 27-32, find the average value of each...Ch. 13.3 - Prob. 31ECh. 13.3 - Prob. 32ECh. 13.3 - Prob. 33ECh. 13.3 - Prob. 34ECh. 13.3 - Prob. 35ECh. 13.3 - 36. Sales and advertising The figure shows the...Ch. 13.3 - Prob. 37ECh. 13.3 - 38. Inventory management The figure shows how an...Ch. 13.3 - 39. Sales and advertising The number of daily...Ch. 13.3 - 40. Demand The demand function for a certain...Ch. 13.3 - 41. Social Security beneficiaries With data from...Ch. 13.3 - Prob. 42ECh. 13.3 - Prob. 43ECh. 13.3 - Prob. 44ECh. 13.3 - Prob. 45ECh. 13.3 - 46. Income distribution In an effort to make the...Ch. 13.3 - Prob. 47ECh. 13.3 - Prob. 48ECh. 13.3 - Prob. 49ECh. 13.3 - Prob. 50ECh. 13.4 - CHECKPOINT
1. Suppose that a continuous income...Ch. 13.4 - Prob. 2CPCh. 13.4 - CHECKPOINT
3. If demand is , supply is , and the...Ch. 13.4 - 1. Find the total income over the next 10 years...Ch. 13.4 - 2. Find the total income over the next 8 years...Ch. 13.4 - 3. Suppose that a steel company views the...Ch. 13.4 - 4. Suppose that the Quick-Fix Car Service...Ch. 13.4 - 5. A small brewery considers the output of its...Ch. 13.4 - 6. A company that services a number of vending...Ch. 13.4 - 7. A franchise models the profit from its store as...Ch. 13.4 - 8. The Medi Spa franchise has a continuous income...Ch. 13.4 - 9. A continuous income stream has an annual rate...Ch. 13.4 - 10. A continuous income stream has an annual rate...Ch. 13.4 - 11. The income from an established chain of...Ch. 13.4 - Prob. 12ECh. 13.4 - 13. Suppose that a printing firm considers its...Ch. 13.4 - 14. Suppose that a vending machine company is...Ch. 13.4 - 15. A 58-year-old couple are considering opening a...Ch. 13.4 - Prob. 16ECh. 13.4 - Prob. 17ECh. 13.4 - Prob. 18ECh. 13.4 - In Problems 17-26, p and C are in dollars and x is...Ch. 13.4 - Prob. 20ECh. 13.4 - Prob. 21ECh. 13.4 - Prob. 22ECh. 13.4 - In Problems 17-26, p and C are in dollars and x is...Ch. 13.4 - Prob. 24ECh. 13.4 - In Problems 17-26, p and C are in dollars and x is...Ch. 13.4 - Prob. 26ECh. 13.4 - 27. Suppose that the supply function for a good...Ch. 13.4 - Prob. 28ECh. 13.4 - 29. If the supply function for a commodity is ,...Ch. 13.4 - Prob. 30ECh. 13.4 - Find the producers surplus at market equilibrium...Ch. 13.4 - 32. Find the producer's surplus at market...Ch. 13.4 - Prob. 33ECh. 13.4 - Prob. 34ECh. 13.4 - 35. The demand function for a certain product is ...Ch. 13.4 - Prob. 36ECh. 13.5 - Prob. 1CPCh. 13.5 - Prob. 2CPCh. 13.5 - Prob. 3CPCh. 13.5 - Prob. 4CPCh. 13.5 - Prob. 5CPCh. 13.5 - Prob. 6CPCh. 13.5 - Prob. 1ECh. 13.5 - Prob. 2ECh. 13.5 - Prob. 3ECh. 13.5 - Prob. 4ECh. 13.5 - Prob. 5ECh. 13.5 - Prob. 6ECh. 13.5 - Prob. 7ECh. 13.5 - Prob. 8ECh. 13.5 - Prob. 9ECh. 13.5 - Prob. 10ECh. 13.5 - Prob. 11ECh. 13.5 - Prob. 12ECh. 13.5 - Prob. 13ECh. 13.5 - Prob. 14ECh. 13.5 - Prob. 15ECh. 13.5 - Prob. 16ECh. 13.5 - Prob. 17ECh. 13.5 - Prob. 18ECh. 13.5 - Evaluate the integrals in Problems 1-32. Identify...Ch. 13.5 - Prob. 20ECh. 13.5 - Prob. 21ECh. 13.5 - Prob. 22ECh. 13.5 - Prob. 23ECh. 13.5 - Prob. 24ECh. 13.5 - Prob. 25ECh. 13.5 - Prob. 26ECh. 13.5 - Prob. 27ECh. 13.5 - Prob. 28ECh. 13.5 - Prob. 29ECh. 13.5 - Prob. 30ECh. 13.5 - Prob. 31ECh. 13.5 - Prob. 32ECh. 13.5 - Prob. 33ECh. 13.5 - Prob. 34ECh. 13.5 - Prob. 35ECh. 13.5 - Prob. 36ECh. 13.5 - Prob. 37ECh. 13.5 - Prob. 38ECh. 13.5 - Prob. 39ECh. 13.5 - Prob. 40ECh. 13.5 - 41. Income streams Suppose that when a new oil...Ch. 13.5 - Prob. 42ECh. 13.6 - Prob. 1CPCh. 13.6 - Prob. 2CPCh. 13.6 - Prob. 1ECh. 13.6 - Prob. 2ECh. 13.6 - Prob. 3ECh. 13.6 - Prob. 4ECh. 13.6 - Prob. 5ECh. 13.6 - Prob. 6ECh. 13.6 - Prob. 7ECh. 13.6 - Prob. 8ECh. 13.6 - Prob. 9ECh. 13.6 - Prob. 10ECh. 13.6 - Prob. 11ECh. 13.6 - In Problems 1-16, use integration by parts to...Ch. 13.6 - Prob. 13ECh. 13.6 - Prob. 14ECh. 13.6 - Prob. 15ECh. 13.6 - Prob. 16ECh. 13.6 - Prob. 17ECh. 13.6 - Prob. 18ECh. 13.6 - Prob. 19ECh. 13.6 - Prob. 20ECh. 13.6 - Prob. 21ECh. 13.6 - Prob. 22ECh. 13.6 - Prob. 23ECh. 13.6 - Prob. 24ECh. 13.6 - Prob. 25ECh. 13.6 - Prob. 26ECh. 13.6 - Prob. 27ECh. 13.6 - Prob. 28ECh. 13.6 - Prob. 29ECh. 13.6 - Prob. 30ECh. 13.6 - Prob. 31ECh. 13.6 - Prob. 32ECh. 13.6 - Prob. 33ECh. 13.6 - Prob. 34ECh. 13.6 - Prob. 35ECh. 13.6 - Prob. 36ECh. 13.6 - Prob. 37ECh. 13.6 - Prob. 38ECh. 13.7 - Prob. 1CPCh. 13.7 - Prob. 2CPCh. 13.7 - In Problems 1-20, evaluate the improper integrals...Ch. 13.7 - Prob. 2ECh. 13.7 - In Problems 1-20, evaluate the improper integrals...Ch. 13.7 - Prob. 4ECh. 13.7 - Prob. 5ECh. 13.7 - Prob. 6ECh. 13.7 - Prob. 7ECh. 13.7 - Prob. 8ECh. 13.7 - Prob. 9ECh. 13.7 - Prob. 10ECh. 13.7 - Prob. 11ECh. 13.7 - Prob. 12ECh. 13.7 - Prob. 13ECh. 13.7 - Prob. 14ECh. 13.7 - Prob. 15ECh. 13.7 - Prob. 16ECh. 13.7 - Prob. 17ECh. 13.7 - Prob. 18ECh. 13.7 - Prob. 19ECh. 13.7 - Prob. 20ECh. 13.7 - Prob. 21ECh. 13.7 - 22. For what value of c does
Ch. 13.7 - Prob. 23ECh. 13.7 - Prob. 24ECh. 13.7 - Prob. 25ECh. 13.7 - Prob. 26ECh. 13.7 - Prob. 27ECh. 13.7 - Prob. 28ECh. 13.7 - Prob. 29ECh. 13.7 - Prob. 30ECh. 13.7 - 31. Find the value of c so that
is a probability...Ch. 13.7 - Prob. 32ECh. 13.7 - Prob. 33ECh. 13.7 - Prob. 34ECh. 13.7 - 35. Find the area below the graph of and above...Ch. 13.7 - Prob. 36ECh. 13.7 - Prob. 37ECh. 13.7 - 38. Capital value Suppose that a donor wants to...Ch. 13.7 - 39. Capital value Suppose that a business provides...Ch. 13.7 - Prob. 40ECh. 13.7 - Prob. 41ECh. 13.7 - 42. Capital value Suppose that a business provides...Ch. 13.7 - 43. Repair time In a manufacturing process...Ch. 13.7 - 44. Customer service The duration t (in minutes)...Ch. 13.7 - Prob. 45ECh. 13.7 - 46. Warranties A manufacturer of electrical...Ch. 13.7 - Prob. 47ECh. 13.7 - Prob. 48ECh. 13.7 - Prob. 49ECh. 13.7 - 50. Inventory management A company uses wood chips...Ch. 13.8 - CHECKPOINT
1. Suppose [1, 4] is divided into 6...Ch. 13.8 - Prob. 2CPCh. 13.8 - Prob. 3CPCh. 13.8 - Prob. 1ECh. 13.8 - Prob. 2ECh. 13.8 - Prob. 3ECh. 13.8 - Prob. 4ECh. 13.8 - Prob. 5ECh. 13.8 - Prob. 6ECh. 13.8 - Prob. 7ECh. 13.8 - Prob. 8ECh. 13.8 - Prob. 9ECh. 13.8 - Prob. 10ECh. 13.8 - Prob. 11ECh. 13.8 - Prob. 12ECh. 13.8 - Prob. 13ECh. 13.8 - Prob. 14ECh. 13.8 - Prob. 15ECh. 13.8 - Prob. 16ECh. 13.8 - Prob. 17ECh. 13.8 - Prob. 18ECh. 13.8 - Prob. 19ECh. 13.8 - Prob. 20ECh. 13.8 - Prob. 21ECh. 13.8 - Prob. 22ECh. 13.8 - In Problems 23-30, round all calculations to 2...Ch. 13.8 - In Problems 23-30, round all calculations to 2...Ch. 13.8 - Prob. 25ECh. 13.8 - Prob. 26ECh. 13.8 - In Problems 23-30, round all calculations to 2...Ch. 13.8 - In Problems 23-30, round all calculations to 2...Ch. 13.8 - Prob. 29ECh. 13.8 - Prob. 30ECh. 13.8 - Prob. 31ECh. 13.8 - Prob. 32ECh. 13.8 - 33. Pollution monitoring Suppose that the presence...Ch. 13.8 - Prob. 34ECh. 13 - 1. Calculate .
Ch. 13 - 2. Use formulas to simplify
Ch. 13 - Prob. 3RECh. 13 - Prob. 4RECh. 13 - 5. Use a definite integral to find the area under...Ch. 13 - Prob. 6RECh. 13 - Prob. 7RECh. 13 - Prob. 8RECh. 13 - Prob. 9RECh. 13 - Prob. 10RECh. 13 - Prob. 11RECh. 13 - Prob. 12RECh. 13 - Prob. 13RECh. 13 - Prob. 14RECh. 13 - Prob. 15RECh. 13 - Prob. 16RECh. 13 - Prob. 17RECh. 13 - Prob. 18RECh. 13 - Prob. 19RECh. 13 - Prob. 20RECh. 13 - Prob. 21RECh. 13 - Prob. 22RECh. 13 - Prob. 23RECh. 13 - Prob. 24RECh. 13 - Prob. 25RECh. 13 - Prob. 26RECh. 13 - Prob. 27RECh. 13 - Prob. 28RECh. 13 - Prob. 29RECh. 13 - In Problems 27-30, use integration by parts to...Ch. 13 - Prob. 31RECh. 13 - Prob. 32RECh. 13 - Prob. 33RECh. 13 - Prob. 34RECh. 13 - Prob. 35RECh. 13 - Prob. 36RECh. 13 - Prob. 37RECh. 13 - 38. Use the table that follows to...Ch. 13 - 39. Suppose that a definite integral is to be...Ch. 13 - 40. Maintenance Maintenance costs for buildings...Ch. 13 - Prob. 41RECh. 13 - Prob. 42RECh. 13 - Prob. 43RECh. 13 - Prob. 44RECh. 13 - Prob. 45RECh. 13 - 46. Income streams Suppose that a machine’s...Ch. 13 - Prob. 47RECh. 13 - Prob. 48RECh. 13 - Prob. 49RECh. 13 - Prob. 50RECh. 13 - Prob. 51RECh. 13 - Prob. 52RECh. 13 - 53. Quality control The length of time (in years)...Ch. 13 - 54. Capital value Find the capital value of a...Ch. 13 - 55. Total income Suppose that a continuous income...Ch. 13 - Prob. 56RECh. 13 - 1. Use left-hand endpoints and subdivisions to...Ch. 13 - 2. Consider from with n equal subdivisions.
(a)...Ch. 13 - Prob. 3TCh. 13 - Prob. 4TCh. 13 - Prob. 5TCh. 13 - Prob. 6TCh. 13 - Prob. 7TCh. 13 - Prob. 8TCh. 13 - 9. Suppose the supply function for a product is ...Ch. 13 - 10. Suppose a continuous income stream has an...Ch. 13 - Prob. 11TCh. 13 - Prob. 12TCh. 13 - Prob. 13TCh. 13 - Prob. 14TCh. 13 - Prob. 15TCh. 13 - 16. The environmental effects of a chemical spill...
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