BuyFindarrow_forward

Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919

Solutions

Chapter
Section
BuyFindarrow_forward

Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919
Textbook Problem
22 views

Consumer and Producer Surpluses Repeat Exercise 57 with a demand of about 6000 units per week when the price is $325 and about 8000 units per week when the price is $300. Find the consumer and producer surpluses. (Assume the demand function is linear.)

To determine

The consumer and producer surpluses of a factory for an air conditioner if the supply function is p=0.0275x.

Explanation

Given Information:

Factory orders are about 6000 units per week at the price of $ 325 and about 8000 units per week at the price of $ 300. The supply function is p=0.0275x, here, p is the price (in dollars) and x is the number of units per week.

Formula used:

The consumer surplus is defined as,

Consumer surplus=0x0[demand functionprice]dx

The producer surplus is defined as,

Producer surplus=0x0[pricesupply function]dx

The equation of a straight line passing through points (x1,y1) and (x2,y2) is,

yy1=(y2y1x2x1)(xx1)

Calculation:

Consider the supply functions,

p=0.0275x

Factory orders are about 6000 units per week at the price of $ 325 and about 8000 units per week at the price of $ 300. Take (x1,p1)=(6000, 325) and (x2,p2)=(8000, 300).

The demand function is defined as,

p325=(30032580006000)(x6000)p=252000x+252000×6000+325p=0.0125x+75+325p=0.0125x+400

So, demand function is p=0.0125x+400

Compute the points of intersection of two graphs by setting the functions equal to each other and solving for x,

Demand=Supply0.0125x+400=0.0275x0.0125x0.0275x=04000.0400x=400

Divide on both sides by 0.0400,

x=(400)(0.0400)x=10,000

Substitute x=10,000 in the demand function p=0.0125x+400 and compute the price,

p0=0

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
Sect-5.1 P-3SWUSect-5.1 P-4SWUSect-5.1 P-5SWUSect-5.1 P-6SWUSect-5.1 P-7SWUSect-5.1 P-8SWUSect-5.1 P-9SWUSect-5.1 P-10SWUSect-5.1 P-1ESect-5.1 P-2ESect-5.1 P-3ESect-5.1 P-4ESect-5.1 P-5ESect-5.1 P-6ESect-5.1 P-7ESect-5.1 P-8ESect-5.1 P-9ESect-5.1 P-10ESect-5.1 P-11ESect-5.1 P-12ESect-5.1 P-13ESect-5.1 P-14ESect-5.1 P-15ESect-5.1 P-16ESect-5.1 P-17ESect-5.1 P-18ESect-5.1 P-19ESect-5.1 P-20ESect-5.1 P-21ESect-5.1 P-22ESect-5.1 P-23ESect-5.1 P-24ESect-5.1 P-25ESect-5.1 P-26ESect-5.1 P-27ESect-5.1 P-28ESect-5.1 P-29ESect-5.1 P-30ESect-5.1 P-31ESect-5.1 P-32ESect-5.1 P-33ESect-5.1 P-34ESect-5.1 P-35ESect-5.1 P-36ESect-5.1 P-37ESect-5.1 P-38ESect-5.1 P-39ESect-5.1 P-40ESect-5.1 P-41ESect-5.1 P-42ESect-5.1 P-43ESect-5.1 P-44ESect-5.1 P-45ESect-5.1 P-46ESect-5.1 P-47ESect-5.1 P-48ESect-5.1 P-49ESect-5.1 P-50ESect-5.1 P-51ESect-5.1 P-52ESect-5.1 P-53ESect-5.1 P-54ESect-5.1 P-55ESect-5.1 P-56ESect-5.1 P-57ESect-5.1 P-58ESect-5.1 P-59ESect-5.1 P-60ESect-5.1 P-61ESect-5.1 P-62ESect-5.1 P-63ESect-5.1 P-64ESect-5.1 P-65ESect-5.1 P-66ESect-5.1 P-67ESect-5.1 P-68ESect-5.1 P-69ESect-5.1 P-70ESect-5.1 P-71ESect-5.1 P-72ESect-5.1 P-73ESect-5.1 P-74ESect-5.1 P-75ESect-5.2 P-1CPSect-5.2 P-2CPSect-5.2 P-3CPSect-5.2 P-4CPSect-5.2 P-5CPSect-5.2 P-6CPSect-5.2 P-7CPSect-5.2 P-8CPSect-5.2 P-1SWUSect-5.2 P-2SWUSect-5.2 P-3SWUSect-5.2 P-4SWUSect-5.2 P-5SWUSect-5.2 P-6SWUSect-5.2 P-7SWUSect-5.2 P-8SWUSect-5.2 P-9SWUSect-5.2 P-1ESect-5.2 P-2ESect-5.2 P-3ESect-5.2 P-4ESect-5.2 P-5ESect-5.2 P-6ESect-5.2 P-7ESect-5.2 P-8ESect-5.2 P-9ESect-5.2 P-10ESect-5.2 P-11ESect-5.2 P-12ESect-5.2 P-13ESect-5.2 P-14ESect-5.2 P-15ESect-5.2 P-16ESect-5.2 P-17ESect-5.2 P-18ESect-5.2 P-19ESect-5.2 P-20ESect-5.2 P-21ESect-5.2 P-22ESect-5.2 P-23ESect-5.2 P-24ESect-5.2 P-25ESect-5.2 P-26ESect-5.2 P-27ESect-5.2 P-28ESect-5.2 P-29ESect-5.2 P-30ESect-5.2 P-31ESect-5.2 P-32ESect-5.2 P-33ESect-5.2 P-34ESect-5.2 P-35ESect-5.2 P-36ESect-5.2 P-37ESect-5.2 P-38ESect-5.2 P-39ESect-5.2 P-40ESect-5.2 P-41ESect-5.2 P-42ESect-5.2 P-43ESect-5.2 P-44ESect-5.2 P-45ESect-5.2 P-46ESect-5.2 P-47ESect-5.2 P-48ESect-5.2 P-49ESect-5.2 P-50ESect-5.2 P-51ESect-5.2 P-52ESect-5.2 P-53ESect-5.2 P-54ESect-5.2 P-55ESect-5.2 P-56ESect-5.2 P-57ESect-5.2 P-58ESect-5.2 P-59ESect-5.2 P-60ESect-5.2 P-61ESect-5.2 P-62ESect-5.3 P-1CPSect-5.3 P-2CPSect-5.3 P-3CPSect-5.3 P-4CPSect-5.3 P-5CPSect-5.3 P-6CPSect-5.3 P-7CPSect-5.3 P-1SWUSect-5.3 P-2SWUSect-5.3 P-3SWUSect-5.3 P-4SWUSect-5.3 P-5SWUSect-5.3 P-6SWUSect-5.3 P-7SWUSect-5.3 P-8SWUSect-5.3 P-1ESect-5.3 P-2ESect-5.3 P-3ESect-5.3 P-4ESect-5.3 P-5ESect-5.3 P-6ESect-5.3 P-7ESect-5.3 P-8ESect-5.3 P-9ESect-5.3 P-10ESect-5.3 P-11ESect-5.3 P-12ESect-5.3 P-13ESect-5.3 P-14ESect-5.3 P-15ESect-5.3 P-16ESect-5.3 P-17ESect-5.3 P-18ESect-5.3 P-19ESect-5.3 P-20ESect-5.3 P-21ESect-5.3 P-22ESect-5.3 P-23ESect-5.3 P-24ESect-5.3 P-25ESect-5.3 P-26ESect-5.3 P-27ESect-5.3 P-28ESect-5.3 P-29ESect-5.3 P-30ESect-5.3 P-31ESect-5.3 P-32ESect-5.3 P-33ESect-5.3 P-34ESect-5.3 P-35ESect-5.3 P-36ESect-5.3 P-37ESect-5.3 P-38ESect-5.3 P-39ESect-5.3 P-40ESect-5.3 P-41ESect-5.3 P-42ESect-5.3 P-43ESect-5.3 P-44ESect-5.3 P-45ESect-5.3 P-46ESect-5.3 P-47ESect-5.3 P-48ESect-5.3 P-49ESect-5.3 P-50ESect-5.3 P-51ESect-5.3 P-52ESect-5.3 P-53ESect-5.3 P-54ESect-5.3 P-55ESect-5.3 P-56ESect-5.3 P-57ESect-5.3 P-58ESect-5.3 P-1QYSect-5.3 P-2QYSect-5.3 P-3QYSect-5.3 P-4QYSect-5.3 P-5QYSect-5.3 P-6QYSect-5.3 P-7QYSect-5.3 P-8QYSect-5.3 P-9QYSect-5.3 P-10QYSect-5.3 P-11QYSect-5.3 P-12QYSect-5.3 P-13QYSect-5.3 P-14QYSect-5.3 P-15QYSect-5.3 P-16QYSect-5.3 P-17QYSect-5.3 P-18QYSect-5.3 P-19QYSect-5.3 P-20QYSect-5.3 P-21QYSect-5.4 P-1CPSect-5.4 P-2CPSect-5.4 P-3CPSect-5.4 P-4CPSect-5.4 P-5CPSect-5.4 P-6CPSect-5.4 P-7CPSect-5.4 P-8CPSect-5.4 P-9CPSect-5.4 P-1SWUSect-5.4 P-2SWUSect-5.4 P-3SWUSect-5.4 P-4SWUSect-5.4 P-5SWUSect-5.4 P-6SWUSect-5.4 P-7SWUSect-5.4 P-1ESect-5.4 P-2ESect-5.4 P-3ESect-5.4 P-4ESect-5.4 P-5ESect-5.4 P-6ESect-5.4 P-7ESect-5.4 P-8ESect-5.4 P-9ESect-5.4 P-10ESect-5.4 P-11ESect-5.4 P-12ESect-5.4 P-13ESect-5.4 P-14ESect-5.4 P-15ESect-5.4 P-16ESect-5.4 P-17ESect-5.4 P-18ESect-5.4 P-19ESect-5.4 P-20ESect-5.4 P-21ESect-5.4 P-22ESect-5.4 P-23ESect-5.4 P-24ESect-5.4 P-25ESect-5.4 P-26ESect-5.4 P-27ESect-5.4 P-28ESect-5.4 P-29ESect-5.4 P-30ESect-5.4 P-31ESect-5.4 P-32ESect-5.4 P-33ESect-5.4 P-34ESect-5.4 P-35ESect-5.4 P-36ESect-5.4 P-37ESect-5.4 P-38ESect-5.4 P-39ESect-5.4 P-40ESect-5.4 P-41ESect-5.4 P-42ESect-5.4 P-43ESect-5.4 P-44ESect-5.4 P-45ESect-5.4 P-46ESect-5.4 P-47ESect-5.4 P-48ESect-5.4 P-49ESect-5.4 P-50ESect-5.4 P-51ESect-5.4 P-52ESect-5.4 P-53ESect-5.4 P-54ESect-5.4 P-55ESect-5.4 P-56ESect-5.4 P-57ESect-5.4 P-58ESect-5.4 P-59ESect-5.4 P-60ESect-5.4 P-61ESect-5.4 P-62ESect-5.4 P-63ESect-5.4 P-64ESect-5.4 P-65ESect-5.4 P-66ESect-5.4 P-67ESect-5.4 P-68ESect-5.4 P-69ESect-5.4 P-70ESect-5.4 P-71ESect-5.4 P-72ESect-5.4 P-73ESect-5.4 P-74ESect-5.4 P-75ESect-5.4 P-76ESect-5.4 P-77ESect-5.4 P-78ESect-5.4 P-79ESect-5.5 P-1CPSect-5.5 P-2CPSect-5.5 P-3CPSect-5.5 P-4CPSect-5.5 P-5CPSect-5.5 P-6CPSect-5.5 P-1SWUSect-5.5 P-2SWUSect-5.5 P-3SWUSect-5.5 P-4SWUSect-5.5 P-5SWUSect-5.5 P-6SWUSect-5.5 P-7SWUSect-5.5 P-8SWUSect-5.5 P-1ESect-5.5 P-2ESect-5.5 P-3ESect-5.5 P-4ESect-5.5 P-5ESect-5.5 P-6ESect-5.5 P-7ESect-5.5 P-8ESect-5.5 P-9ESect-5.5 P-10ESect-5.5 P-11ESect-5.5 P-12ESect-5.5 P-13ESect-5.5 P-14ESect-5.5 P-15ESect-5.5 P-16ESect-5.5 P-17ESect-5.5 P-18ESect-5.5 P-19ESect-5.5 P-20ESect-5.5 P-21ESect-5.5 P-22ESect-5.5 P-23ESect-5.5 P-24ESect-5.5 P-25ESect-5.5 P-26ESect-5.5 P-27ESect-5.5 P-28ESect-5.5 P-29ESect-5.5 P-30ESect-5.5 P-31ESect-5.5 P-32ESect-5.5 P-33ESect-5.5 P-34ESect-5.5 P-35ESect-5.5 P-36ESect-5.5 P-37ESect-5.5 P-38ESect-5.5 P-39ESect-5.5 P-40ESect-5.5 P-41ESect-5.5 P-42ESect-5.5 P-43ESect-5.5 P-44ESect-5.5 P-45ESect-5.5 P-46ESect-5.5 P-47ESect-5.5 P-48ESect-5.5 P-49ESect-5.5 P-50ESect-5.5 P-51ESect-5.5 P-52ESect-5.5 P-53ESect-5.5 P-54ESect-5.5 P-55ESect-5.5 P-56ESect-5.5 P-57ESect-5.5 P-58ESect-5.6 P-1CPSect-5.6 P-2CPSect-5.6 P-3CPSect-5.6 P-1SWUSect-5.6 P-2SWUSect-5.6 P-3SWUSect-5.6 P-4SWUSect-5.6 P-5SWUSect-5.6 P-6SWUSect-5.6 P-7SWUSect-5.6 P-8SWUSect-5.6 P-9SWUSect-5.6 P-10SWUSect-5.6 P-1ESect-5.6 P-2ESect-5.6 P-3ESect-5.6 P-4ESect-5.6 P-5ESect-5.6 P-6ESect-5.6 P-7ESect-5.6 P-8ESect-5.6 P-9ESect-5.6 P-10ESect-5.6 P-11ESect-5.6 P-12ESect-5.6 P-13ESect-5.6 P-14ESect-5.6 P-15ESect-5.6 P-16ESect-5.6 P-17ESect-5.6 P-18ESect-5.6 P-19ESect-5.6 P-20ESect-5.6 P-29ESect-5.6 P-30ESect-5.6 P-31ESect-5.6 P-33ECh-5 P-1RECh-5 P-2RECh-5 P-3RECh-5 P-4RECh-5 P-5RECh-5 P-6RECh-5 P-7RECh-5 P-8RECh-5 P-9RECh-5 P-10RECh-5 P-11RECh-5 P-12RECh-5 P-13RECh-5 P-14RECh-5 P-15RECh-5 P-16RECh-5 P-17RECh-5 P-18RECh-5 P-19RECh-5 P-20RECh-5 P-21RECh-5 P-22RECh-5 P-23RECh-5 P-24RECh-5 P-25RECh-5 P-26RECh-5 P-27RECh-5 P-28RECh-5 P-29RECh-5 P-30RECh-5 P-31RECh-5 P-32RECh-5 P-33RECh-5 P-34RECh-5 P-35RECh-5 P-36RECh-5 P-37RECh-5 P-38RECh-5 P-39RECh-5 P-40RECh-5 P-41RECh-5 P-42RECh-5 P-43RECh-5 P-44RECh-5 P-45RECh-5 P-46RECh-5 P-47RECh-5 P-48RECh-5 P-49RECh-5 P-50RECh-5 P-51RECh-5 P-52RECh-5 P-53RECh-5 P-54RECh-5 P-55RECh-5 P-56RECh-5 P-57RECh-5 P-58RECh-5 P-59RECh-5 P-60RECh-5 P-61RECh-5 P-62RECh-5 P-63RECh-5 P-64RECh-5 P-65RECh-5 P-66RECh-5 P-67RECh-5 P-68RECh-5 P-69RECh-5 P-70RECh-5 P-71RECh-5 P-72RECh-5 P-73RECh-5 P-74RECh-5 P-75RECh-5 P-76RECh-5 P-77RECh-5 P-78RECh-5 P-79RECh-5 P-80RECh-5 P-81RECh-5 P-82RECh-5 P-83RECh-5 P-84RECh-5 P-85RECh-5 P-86RECh-5 P-87RECh-5 P-88RECh-5 P-89RECh-5 P-90RECh-5 P-91RECh-5 P-92RECh-5 P-93RECh-5 P-94RECh-5 P-95RECh-5 P-96RECh-5 P-97RECh-5 P-98RECh-5 P-99RECh-5 P-100RECh-5 P-101RECh-5 P-102RECh-5 P-103RECh-5 P-104RECh-5 P-105RECh-5 P-106RECh-5 P-107RECh-5 P-108RECh-5 P-109RECh-5 P-110RECh-5 P-111RECh-5 P-112RECh-5 P-113RECh-5 P-114RECh-5 P-115RECh-5 P-1TYSCh-5 P-2TYSCh-5 P-3TYSCh-5 P-4TYSCh-5 P-5TYSCh-5 P-6TYSCh-5 P-7TYSCh-5 P-8TYSCh-5 P-9TYSCh-5 P-10TYSCh-5 P-11TYSCh-5 P-12TYSCh-5 P-13TYSCh-5 P-14TYSCh-5 P-15TYSCh-5 P-16TYSCh-5 P-17TYSCh-5 P-18TYSCh-5 P-19TYSCh-5 P-20TYSCh-5 P-21TYSCh-5 P-22TYS

Additional Math Solutions

Find more solutions based on key concepts

Show solutions add

Differentiate. f(x)=ax+bcx+d

Single Variable Calculus: Early Transcendentals, Volume I

Motorc ycle Deaths Suppose the fatality rate (deaths per 100 million miles traveled) of motorcyclists is given ...

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

Identify the four steps of a hypothesis test as presented in this chapter.

Statistics for The Behavioral Sciences (MindTap Course List)

In Problems 3-6, factor by grouping. 5.

Mathematical Applications for the Management, Life, and Social Sciences

Sketch the region in the xy-plane. 52. (x,y)xy12(x+3)

Single Variable Calculus: Early Transcendentals

Find each product: (xy4)2

Elementary Technical Mathematics

True or False: div curl F = 0.

Study Guide for Stewart's Multivariable Calculus, 8th

For y = f (u) and u = g(x), dydx=dydududx.

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

What is the primary factor that determines when it is time to change phases?

Research Methods for the Behavioral Sciences (MindTap Course List)

Describe how replication protects against fraud being committed in research.

Research Methods for the Behavioral Sciences (MindTap Course List)