   Chapter 13.4, Problem 2CP ### Mathematical Applications for the ...

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

#### Solutions

Chapter
Section ### Mathematical Applications for the ...

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

# Suppose that for a certain product, the supply function is p   = f ( x ) , the demand function is p   = g ( x ) , and the equilibrium point is ( x 1 , p 1 ) .Decide whether the following are true or false. (a)  C S = ∫ 0 x 1 f ( x ) d x − p 1 x 1 (b)  P S = ∫ 0 x 1 f ( x ) d x − p 1 x 1

(a)

To determine

Whether the integral expression CS=0x1f(x)dxp1x1 is true or false for a supply function p=f(x) and the demand function is p=g(x).

Explanation

Given information:

The supply function is p=f(x), the demand function is p=g(x), and the equilibrium point is (x1,p1) then CS=0x1f(x)dxp1x1.

Explanation:

Consider the provided integral expression, CS=0x1f(x)dxp1x1

(b)

To determine

Whether the integral expression PS=0x1f(x)dxp1x1 is true or false for a supply function p=f(x) and the demand function is p=g(x).

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