Assume a market demand function is given by the equation: [ Q^{d}=50-0.75 P ] where (Q^{d}) is

Question:

Assume a market demand function is given by the equation:

\[
Q^{d}=50-0.75 P
\]

where $Q^{d}$ is the quantity demanded and $P$ is the price. If $P$ equals 10 , the value of the consumer surplus is closest to:

A. 67.

B. 1,205 .

C. 1,667 .

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Economics For Investment Decision Makers

ISBN: 9781118111963

1st Edition

Authors: Sandeep Singh, Christopher D Piros, Jerald E Pinto

See More Books

Question Posted: Mar 09, 2024 11:02 AM

See More Questions

123 Compare the purely graphical properties of these two notations, and the ways in which the graphical properties of each display correspond to the information structure being defined. Describe...
Let r and s be solutions to the quadratic equation x 2 b x + c = 0. For n N, define d0 = 0 d1 = r s dn = b dn1 c dn2 (n 2) Prove that dn = r n s n for all n N. [4 marks] (b) Recall that a commutative...
A persons demand for gizmos is given by the following equation: q = 6 0.5p + 0.0002I Where, q is the quantity demanded at price p when the persons income is I. Assume initially that the persons...
Which of these situations would require auditors to append an emphasis- of- matter paragraph about consistency to an otherwise unmodified opinion? a. Entity changed its estimated allowance for...
At what angle will 510-nm light produce a second-order maximum when falling on a grating whose slits are 1.35 x 10-3 apart?
Using the requirements of GASB 33, classify each of the following independent transactions for the community of Fair Lake into the proper category of revenue presented in the right-hand column....
Pick a product like Cadillac or Sara Lee Deli products or service like Mr. Clean Performance Car Wash or a car and home insurance company that is offered in a limited number of countries. Assess the...
The data presented below were taken from the books and records of the village of Denaville. All amounts are in millions. The village encumbers all outlays. As is evident from the data, some goods or...
A new university has been built outside a small town in Scotland, which has resulted in a mass influx of workers and their families to the area. As a result of this, the town has been suffering from...
Which of the following best describes producer surplus? A. Revenue minus variable costs B. Revenue minus variable plus fixed costs C. The area above the supply curve and beneath the demand curve and...
A quota on an imported good below the market-clearing quantity will most likely lead to which of the following effects? A. The supply curve shifts upward. B. The demand curve shifts upward. C. Some...
Keck Business Forms recently failed and will be liquidated by a court-appointed trustee who will charge $300,000 for her services. The preliquidation balance sheet follows. Assume that the trustee...
4. (20 points) Calculate the run time for the following program segments: (a) int sum(int A[], int n) { (b) int t-sum 0, m-sum=0; for (int i=0; i
Calculate the future value of $9,000 in a. Four years at an interest rate of 9% per year. b. Eight years at an interest rate of 9% per year. c. Four years at an interest rate of 18% per year. d. Why...
A sports complex takes up an entire city block. If you walk all the way around the complex, you have walked 899 metres. Two times the length of the city block is 100 metres less than its width. What...
Felicia borrowed $25,000 at a nominal rate of 8% amortized over 5 years with monthly payments. Felicia inherits $40,000 from her uncle and wants to pay off the loan in full after the 25th payment...
Oil Wells offers 5.6 percent coupon bonds with annual payments and a yield to maturity of 6.94 percent. The bonds mature in seven years. The face value is $1,000. What is the current yield?
The position of boom ABC is controlled by the hydraulic cylinder BD. For the loading shown, determine the force exerted by the hydraulic cylinder on pin B when Î¸ =70°. S kips 1.5f 2...
Using thermodynamic data from Appendix 4, calculate G at 258C for the process: 2SO 2 (g) + O 2 (g) 88n 2SO 3 (g) where all gases are at 1.00 atm pressure. Also calculate DG8 at 258C for this same...
Use the graph below to answer the following questions. a. Which of the points A, B, C, or D can represent a long-run equilibrium? b. Suppose that initially the economy is at point A. If aggregate...
In the following graph, suppose that the economy moves from point A in year 1 to point B in year 2. Using the graph, briefly explain your answer to each of the questions. a. What is the growth rate...
Why do businesses accept paper currency when they know that, unlike a gold coin, the paper the currency is printed on is worth very little?
Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. Sales Variable expenses Fixed expenses (total) Units produced...
Bradley-Link's December 31, 2024, balance sheet included the following items: Long-Term Liabilities 10.0% convertible bonds, callable at 105 beginning in 2025, due 2028 (net of unamortized discount...
At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $10,100 and liabilities of $6,600. During the year, liabilities decreased by $800. Net income for the...

Assume a market demand function is given by the equation: [ Q^{d}=50-0.75 P ] where (Q^{d}) is

Question:

Step by Step Answer:

Economics For Investment Decision Makers

Students also viewed these Business questions