If the supply curve is q = 4 + 2p, what is the producer surplus if the price is p = 12? Producer surplus (PS) equals $ (Enter your response as a whole number.)
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- The price-demand equation for a particular flashlight is given by p = 118 - 0.002x, where x is the number of flashlights demanded when the price is p dollars each. The flashlight manufacturers will produce no flashlights if the price is $79 or less, and they will market 5,500 flashlights when the price is $101 per flashlight. (Assume the price-supply equation is linear.) (a) Find the consumers' surplus for this commodity. $ (b) Find the producers' surplus for this commodity. $The following diagram shows supply and demand in the market for smartphones. Use the black point (plus symbol) to indicate the equilibrium price and quantity of smartphones. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. (?) Demand 300 270 Equilibrium 240 210 180 Consumer Surplus 150 120 Producer Surplus 90 60 30 Supply 30 60 90 120 150 180 210 240 270 300 QUANTITY (Millions of phones) Total surplus in this market is $ million. PRICE (Dollars per phone)in a competitive market, if there should be a surplus of a product at a given price:
- (1 point) Find producer's surplus at the market equilibrium point if supply function is p = 0.8x + 3 and the demand function is p = 150.4 +8 Answer:The following graph plots the supply and demand curves in the market for polaroid cameras. Use the black point (plus symbol) to indicate the equilibrium price and quantity of polaroid cameras. Then use the green point (triangle symbol) to fill the area representing consumer surplus, and use the purple point (diamond symbol) to fill the area representing producer surplus. (?) PRICE (Dollars per camera) 400 360 320 280 240 200 160 120 80 40 0 0 Demand Supply 75 150 225 300 375 450 525 600 675 QUANTITY (Millions of cameras) Total surplus in this market is $ 750 million. * Equilibrium A Consumer Surplus Producer SurplusGiven: (x is number of items) Demand function: d(x) = 862.4 – 0.5x? Supply function: s(x) = 0.6x² Find the equilibrium quantity: | Preview Find the consumers surplus at the equilibrium quantity: Preview
- Consider a market with the equilibrium quantity = 100 and the equilibrium price = 50. Without further information on the market, can we answer the quantity that maximizes the total surplus? If we can, answer the quantity. If we cannot, answer “Cannot”.Calculate the producers' surplus (in dollars) for the supply equation at the indicated unit price p. (Round your answer to the nearest cent.) p = 7 + 2g p = 20 ,1/3.A firm's inverse supply for a good is given by p = 4.00 + (4.00 × q). Assuming that there are enough buyers to meet the firm's supply, if the per-unit price increases from p = 18.00 to p = 23.50, what is the firm's change in producer's surplus? (Round to the nearest two decimals if necessary.) 2nd attempt A firm's inverse supply for a good is given by p = 4.00 + (4.00 × q). Assuming that there are enough buyers to meet the firm's supply, if the per-unit price increases from p = 18.00 to p = 23.50, what is the firm's change in producer's surplus? O 19.99 (Round to the nearest two decimals if necessary.) 1st attempt A firm's inverse supply for a good is given by p = 4.00 + (4.00 × q). Assuming that there are enough buyers to meet the firm's supply, if the per-unit price increases from p = 18.00 to p = 23.50, what is the firm's change in producer's surplus? O 15.47 (Round to the nearest two decimals if necessary.)
- In this problem, p is in dollars and x is the number of units. The demand function for a certain product is p = 189 – 2x2 and the supply function isp = x2 + 33x + 36. Find the producer's surplus at the equilibrium point. (Round x and p to two decimal places. Round your answer to the nearest cent.) $ Need Help? Read It Master ItSolve a Consumers' or Producers' Surplus Problem. A sports watch has a price-demand equation given by p= D(z) = 40-2-0174176a dollars, which gives the price per watch when a watches are demanded. The price-supply equation for the watch is given by p= S(x) = 0.6z+4 dollars, which gives the price per watch when z watches are supplied. If the equilibrium quantity is 11, find the consumers' surplus and the producers' surplus. The consumers' surplus is. (Your answer must begin with S.) The producers' surplus is Your answer must begin with $.)Calculate the producers' surplus for the supply equation at the indicated unit price p. HINT [See Example 2.] (Round your answer to the nearest cent.) p = 90 + q; p = 230