BuyFindarrow_forward

Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042

Solutions

Chapter
Section
BuyFindarrow_forward

Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042
Textbook Problem

In Problems 17-26, p and C are in dollars and x is the number of units.

The demand function for a product is p   = 34     x 2 . If the equilibrium price is $9 per unit, what is the consumer's surplus?

To determine

To calculate: The Consumer’s Surplus for a product whose demand function is approximated by p=34x2 dollars. If, the equilibrium price is 9 dollars per unit.

Explanation

Given Information:

The Equilibrium Surplus for a product whose demand function is approximated by p=34x2 dollars. Where, the equilibrium price is 9 dollars per unit.

Formula used:

According to the Consumer’s Surplus,

If the demand curve has equation p=f(x), the consumer surplus is given by the area between f(x) and the x-axis from 0 to x1, less the area of TR is:

CS=0x1f(x)dxp1x1.

Calculation:

Consider the demand function:

p=34x2

Since, to know the quantity to be purchased at equilibrium price,

Let, p=9

Substitute the value p=9 in the demand function to get x1,

9=34x2x2=349x2=25x=5

Thus, the equilibrium point (x1,p1) can determine as,

x1=5p1=9

Consider the formula,

CS=x

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Chapter 13 Solutions

Show all chapter solutions add
Sect-13.1 P-9ESect-13.1 P-10ESect-13.1 P-11ESect-13.1 P-12ESect-13.1 P-13ESect-13.1 P-14ESect-13.1 P-15ESect-13.1 P-16ESect-13.1 P-17ESect-13.1 P-18ESect-13.1 P-19ESect-13.1 P-20ESect-13.1 P-21ESect-13.1 P-22ESect-13.1 P-23ESect-13.1 P-24ESect-13.1 P-25ESect-13.1 P-26ESect-13.1 P-27ESect-13.1 P-28ESect-13.1 P-29ESect-13.1 P-30ESect-13.1 P-31ESect-13.1 P-32ESect-13.1 P-33ESect-13.1 P-34ESect-13.1 P-35ESect-13.1 P-36ESect-13.1 P-37ESect-13.1 P-38ESect-13.1 P-39ESect-13.1 P-40ESect-13.2 P-1CPSect-13.2 P-2CPSect-13.2 P-1ESect-13.2 P-2ESect-13.2 P-3ESect-13.2 P-4ESect-13.2 P-5ESect-13.2 P-6ESect-13.2 P-9ESect-13.2 P-10ESect-13.2 P-11ESect-13.2 P-12ESect-13.2 P-7ESect-13.2 P-8ESect-13.2 P-23ESect-13.2 P-24ESect-13.2 P-13ESect-13.2 P-14ESect-13.2 P-15ESect-13.2 P-16ESect-13.2 P-17ESect-13.2 P-18ESect-13.2 P-19ESect-13.2 P-20ESect-13.2 P-21ESect-13.2 P-22ESect-13.2 P-25ESect-13.2 P-26ESect-13.2 P-27ESect-13.2 P-28ESect-13.2 P-29ESect-13.2 P-30ESect-13.2 P-31ESect-13.2 P-32ESect-13.2 P-33ESect-13.2 P-34ESect-13.2 P-35ESect-13.2 P-36ESect-13.2 P-37ESect-13.2 P-38ESect-13.2 P-39ESect-13.2 P-40ESect-13.2 P-41ESect-13.2 P-42ESect-13.2 P-43ESect-13.2 P-44ESect-13.2 P-45ESect-13.2 P-46ESect-13.2 P-47ESect-13.2 P-48ESect-13.2 P-49ESect-13.2 P-50ESect-13.2 P-51ESect-13.2 P-52ESect-13.2 P-53ESect-13.2 P-54ESect-13.2 P-55ESect-13.2 P-56ESect-13.2 P-57ESect-13.2 P-58ESect-13.2 P-59ESect-13.2 P-60ESect-13.2 P-61ESect-13.2 P-62ESect-13.2 P-63ESect-13.2 P-64ESect-13.2 P-65ESect-13.2 P-66ESect-13.2 P-67ESect-13.2 P-68ESect-13.3 P-1CPSect-13.3 P-2CPSect-13.3 P-3CPSect-13.3 P-1ESect-13.3 P-2ESect-13.3 P-3ESect-13.3 P-4ESect-13.3 P-5ESect-13.3 P-6ESect-13.3 P-7ESect-13.3 P-8ESect-13.3 P-9ESect-13.3 P-10ESect-13.3 P-11ESect-13.3 P-12ESect-13.3 P-13ESect-13.3 P-14ESect-13.3 P-15ESect-13.3 P-16ESect-13.3 P-17ESect-13.3 P-18ESect-13.3 P-19ESect-13.3 P-20ESect-13.3 P-21ESect-13.3 P-22ESect-13.3 P-23ESect-13.3 P-24ESect-13.3 P-25ESect-13.3 P-26ESect-13.3 P-27ESect-13.3 P-28ESect-13.3 P-29ESect-13.3 P-30ESect-13.3 P-31ESect-13.3 P-32ESect-13.3 P-33ESect-13.3 P-34ESect-13.3 P-35ESect-13.3 P-36ESect-13.3 P-37ESect-13.3 P-38ESect-13.3 P-39ESect-13.3 P-40ESect-13.3 P-41ESect-13.3 P-42ESect-13.3 P-43ESect-13.3 P-44ESect-13.3 P-45ESect-13.3 P-46ESect-13.3 P-47ESect-13.3 P-48ESect-13.3 P-49ESect-13.3 P-50ESect-13.4 P-1CPSect-13.4 P-2CPSect-13.4 P-3CPSect-13.4 P-1ESect-13.4 P-2ESect-13.4 P-3ESect-13.4 P-4ESect-13.4 P-5ESect-13.4 P-6ESect-13.4 P-7ESect-13.4 P-8ESect-13.4 P-9ESect-13.4 P-10ESect-13.4 P-11ESect-13.4 P-12ESect-13.4 P-13ESect-13.4 P-14ESect-13.4 P-15ESect-13.4 P-16ESect-13.4 P-17ESect-13.4 P-18ESect-13.4 P-19ESect-13.4 P-20ESect-13.4 P-21ESect-13.4 P-22ESect-13.4 P-23ESect-13.4 P-24ESect-13.4 P-25ESect-13.4 P-26ESect-13.4 P-27ESect-13.4 P-28ESect-13.4 P-29ESect-13.4 P-30ESect-13.4 P-31ESect-13.4 P-32ESect-13.4 P-33ESect-13.4 P-34ESect-13.4 P-35ESect-13.4 P-36ESect-13.5 P-1CPSect-13.5 P-2CPSect-13.5 P-3CPSect-13.5 P-4CPSect-13.5 P-5CPSect-13.5 P-6CPSect-13.5 P-1ESect-13.5 P-2ESect-13.5 P-3ESect-13.5 P-4ESect-13.5 P-5ESect-13.5 P-6ESect-13.5 P-7ESect-13.5 P-8ESect-13.5 P-9ESect-13.5 P-10ESect-13.5 P-11ESect-13.5 P-12ESect-13.5 P-13ESect-13.5 P-14ESect-13.5 P-15ESect-13.5 P-16ESect-13.5 P-17ESect-13.5 P-18ESect-13.5 P-19ESect-13.5 P-20ESect-13.5 P-21ESect-13.5 P-22ESect-13.5 P-23ESect-13.5 P-24ESect-13.5 P-25ESect-13.5 P-26ESect-13.5 P-27ESect-13.5 P-28ESect-13.5 P-29ESect-13.5 P-30ESect-13.5 P-31ESect-13.5 P-32ESect-13.5 P-33ESect-13.5 P-34ESect-13.5 P-35ESect-13.5 P-36ESect-13.5 P-37ESect-13.5 P-38ESect-13.5 P-39ESect-13.5 P-40ESect-13.5 P-41ESect-13.5 P-42ESect-13.6 P-1CPSect-13.6 P-2CPSect-13.6 P-1ESect-13.6 P-2ESect-13.6 P-3ESect-13.6 P-4ESect-13.6 P-5ESect-13.6 P-6ESect-13.6 P-7ESect-13.6 P-8ESect-13.6 P-9ESect-13.6 P-10ESect-13.6 P-11ESect-13.6 P-12ESect-13.6 P-13ESect-13.6 P-14ESect-13.6 P-15ESect-13.6 P-16ESect-13.6 P-17ESect-13.6 P-18ESect-13.6 P-19ESect-13.6 P-20ESect-13.6 P-21ESect-13.6 P-22ESect-13.6 P-23ESect-13.6 P-24ESect-13.6 P-25ESect-13.6 P-26ESect-13.6 P-27ESect-13.6 P-28ESect-13.6 P-29ESect-13.6 P-30ESect-13.6 P-31ESect-13.6 P-32ESect-13.6 P-33ESect-13.6 P-34ESect-13.6 P-35ESect-13.6 P-36ESect-13.6 P-37ESect-13.6 P-38ESect-13.7 P-1CPSect-13.7 P-2CPSect-13.7 P-1ESect-13.7 P-2ESect-13.7 P-3ESect-13.7 P-4ESect-13.7 P-5ESect-13.7 P-6ESect-13.7 P-7ESect-13.7 P-8ESect-13.7 P-9ESect-13.7 P-10ESect-13.7 P-11ESect-13.7 P-12ESect-13.7 P-13ESect-13.7 P-14ESect-13.7 P-15ESect-13.7 P-16ESect-13.7 P-17ESect-13.7 P-18ESect-13.7 P-19ESect-13.7 P-20ESect-13.7 P-21ESect-13.7 P-22ESect-13.7 P-23ESect-13.7 P-24ESect-13.7 P-25ESect-13.7 P-26ESect-13.7 P-27ESect-13.7 P-28ESect-13.7 P-29ESect-13.7 P-30ESect-13.7 P-31ESect-13.7 P-32ESect-13.7 P-33ESect-13.7 P-34ESect-13.7 P-35ESect-13.7 P-36ESect-13.7 P-37ESect-13.7 P-38ESect-13.7 P-39ESect-13.7 P-40ESect-13.7 P-41ESect-13.7 P-42ESect-13.7 P-43ESect-13.7 P-44ESect-13.7 P-45ESect-13.7 P-47ESect-13.8 P-1CPSect-13.8 P-2CPSect-13.8 P-3CPSect-13.8 P-1ESect-13.8 P-2ESect-13.8 P-3ESect-13.8 P-4ESect-13.8 P-5ESect-13.8 P-6ESect-13.8 P-7ESect-13.8 P-8ESect-13.8 P-9ESect-13.8 P-10ESect-13.8 P-11ESect-13.8 P-12ESect-13.8 P-13ESect-13.8 P-14ESect-13.8 P-15ESect-13.8 P-16ESect-13.8 P-17ESect-13.8 P-18ESect-13.8 P-19ESect-13.8 P-20ESect-13.8 P-21ESect-13.8 P-22ESect-13.8 P-23ESect-13.8 P-24ESect-13.8 P-25ESect-13.8 P-26ESect-13.8 P-27ESect-13.8 P-28ESect-13.8 P-29ESect-13.8 P-30ESect-13.8 P-31ESect-13.8 P-32ESect-13.8 P-33ESect-13.8 P-34ECh-13 P-1RECh-13 P-2RECh-13 P-3RECh-13 P-4RECh-13 P-5RECh-13 P-6RECh-13 P-7RECh-13 P-8RECh-13 P-9RECh-13 P-10RECh-13 P-11RECh-13 P-12RECh-13 P-13RECh-13 P-14RECh-13 P-15RECh-13 P-16RECh-13 P-17RECh-13 P-18RECh-13 P-19RECh-13 P-20RECh-13 P-21RECh-13 P-22RECh-13 P-23RECh-13 P-24RECh-13 P-25RECh-13 P-26RECh-13 P-27RECh-13 P-28RECh-13 P-29RECh-13 P-30RECh-13 P-31RECh-13 P-32RECh-13 P-33RECh-13 P-34RECh-13 P-35RECh-13 P-36RECh-13 P-37RECh-13 P-38RECh-13 P-39RECh-13 P-40RECh-13 P-41RECh-13 P-42RECh-13 P-43RECh-13 P-44RECh-13 P-45RECh-13 P-46RECh-13 P-47RECh-13 P-48RECh-13 P-49RECh-13 P-50RECh-13 P-51RECh-13 P-53RECh-13 P-54RECh-13 P-55RECh-13 P-1TCh-13 P-2TCh-13 P-3TCh-13 P-4TCh-13 P-5TCh-13 P-6TCh-13 P-7TCh-13 P-8TCh-13 P-9TCh-13 P-10TCh-13 P-11TCh-13 P-12TCh-13 P-13TCh-13 P-14TCh-13 P-15TCh-13 P-16T

Additional Math Solutions

Find more solutions based on key concepts

Show solutions add

Differentiate. f(x)=xx+cx

Single Variable Calculus: Early Transcendentals, Volume I

In Exercises 9-16, complete the table by computing f(x) at the given values of x. Use these results to estimate...

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

Convert the expressions in Exercises 8596 radical form. 22/3

Finite Mathematics and Applied Calculus (MindTap Course List)

Find the limit. limx12x2x45+x3x4

Single Variable Calculus: Early Transcendentals

For 0

Study Guide for Stewart's Multivariable Calculus, 8th

Sometimes, Always, or Never: If limxaf(x) and f(a) both exist, then f is continuous at a.

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

Find x. log2x=5

College Algebra (MindTap Course List)

Identify and describe the content of each section of an APA-style research report.

Research Methods for the Behavioral Sciences (MindTap Course List)

Identify the three modalities of measurement and explain the strengths and weaknesses of each.

Research Methods for the Behavioral Sciences (MindTap Course List)