1. S

    Consumers' and producers' surplus

    Consumers' and producers' surplus The quantity x demanded per week, in units of a hundred, of a certain product is related to the unit price p (in dollars) by the relation p= −0.01x^2−0.4x+249 The quantity x, in units of a hundred, that the supplier is willing to make available in...
  2. S

    Consumers' Surplus

    Demand for digital camcorder tapes The demand function for a certain brand of blank digital camcorder tapes is given by p= −0.01x^2−0.3x+22 where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Determine the...
  3. P

    consumer surplus

    Assume the demand function for basketballs is given by QD = 150 - 3P + .001I, where P = price of a basketball and I = average income of consumers. a) If the income is 30000 I want o find when the quantity is 0 and b) For the price 20, I want to find the consumer surplus Could you...
  4. H

    Consumer's surplus

    Q. The demand & supply functions respectively are: P_d = (6-x)^2 & P_s = 14+x Find the consumer surplus if the demand and price are determined under perfect competition. I tried to solve this problem as follows:- Under perfect competition, the equilibrium condition is...
  5. H

    consumer/ supply surplus!

    My professor reopened the homeoworks for my class which i can get a B if i do all of them! here's one that's giving me problems. The demand function for a certain make of replacement cartridges for a water purifier is given by the following equation where p is the unit price in dollars and x...
  6. L

    Producer/Consumer Surplus

    So I did this question and I thought my answers were right but I didn't get any marks for this question and I was wondering why. My CS was: 32.28 My PS was: 33 Can somebody do the question and post what they got?
  7. B

    Consumer and Producer Surplus

    Alright so I'm having some trouble with consumer and producer surplus. The problem however, is not the math but the interpretation of the answer. I already solved the problem but the last part of the answer is to tell what it means. The answer to the problem is, consumer surplus is equal to -9...