Suppose that the supply function for a good is p = 4x2 + 2x + 2. If
Question:
Suppose that the supply function for a good is p = 4x2 + 2x + 2. If the equilibrium price is $422 per unit, what is the producer's surplus there? In the following equation p is in dollars and x is the number of units.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
4224x 2 2x2 4x 2 2x4200 2...View the full answer
Answered By
Rustia Melrod
I am a retired teacher with 6 years of experience teaching various science subjects to high school students and undergraduate students. This background enables me to be able to help tutor students who are struggling with the science of business component of their education. Teaching difficult subjects has definitely taught me patience. There is no greater joy for me than to patiently guide a student to the correct answer. When a student has that "aha!" moment, all my efforts are worth it.
The Common Core standards are a useful yardstick for measuring how well students are doing. My students consistently met or exceeded the Common Core standards for science. I believe in working with each student's individual learning styles to help them understand the material. If students were struggling with a concept, I would figure out a different way to teach or apply that concept. I was voted Teacher of the Year six times in my career. I also won an award for Innovative Teaching Style at the 2011 National Teaching Conference.
4.90+
4+ Reviews
10+ Question Solved
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Question Posted:
Students also viewed these Calculus questions
-
Suppose that the supply function for a good is p = 0.1x2 = 3x + 20. If the equilibrium price is $36 per unit, what is the producer's surplus there? In the following equation p is in dollars and x is...
-
The supply function for a product is 2p - q - 10 = 0, while the demand function for the same product is (p + 10)(q + 30) = 7200. Find the market equilibrium point?
-
(a) Suppose the supply function for a product is p = 0.1q2 + 1 and the demand function is p = 85 - 0.2q - 0.1q2. Sketch the first-quadrant portion of the graph of each function. Use the same set of...
-
12 7. In a group of 7 employees and 5 non-employees, four people must be chosen to ride together in a company vehicle with four seats. How many seating arrangements are possible if at least two...
-
A top of mass m = 0.50 kg, whose axis is tilted by an angle = 30 to the vertical, precesses due to gravity. The moment of inertia of the top relative to its symmetry axis is equal to I = 2.0 g.m2,...
-
Jimmy is a successful fund manager. He has been managing the Hong Kong equities fund for over five years with current assets under management (AUM) of HKD250 million and compound annual growth rate...
-
The 2014-T6 aluminum hollow section has the cross section shown. If the column is \(10 \mathrm{ft}\) long and is fixed at both ends, determine the allowable axial force \(P\) that can be safely...
-
The ledger of Beckett Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared. An analysis of the accounts shows the following....
-
5. Design a synchronous sequential circuit represented by the following state diagram using explicit style Verilog code. Assume a positive-edge clock. Also assume that reset will be done when the...
-
Erin Murdoch, an architect, organized Modern Architects on January 1, 20Y4. During the month, Modern Architects completed the following transactions: a. Issued common stock to Erin Murdoch in...
-
A monopoly has a total cost function C=500+ 2x2+10x for its product, which has demand function p=-1/3x2-2x+30. Find the consumer's surplus at the point where the monopoly has maximum profit. In the...
-
If the supply function for a commodity is p=10ex/3, what is the producer's surplus when 15 units are sold? In the following equation p is in dollars and x is the number of units.
-
Entrance and exit ramps for freeways are often circular stretches of road. As you go around one at a constant speed, you will experience a constant acceleration. Suppose you drive through an entrance...
-
If the base rate of an hourly worker is 8.80 per hour and the employee worked 47 hours during the week, calculate his gross pay is overtime is paid at time and a half.
-
On 1/1/2013, the Arab Creatives Company for the manufacture of carpets and rugs purchased 80% of the shares of Al-Izdihar Cardboard Factory at a cost of 200,000 dinars. The net fair value of the...
-
How does the self-determination theory explain the relationship between intrinsic and extrinsic motivation, and how can this understanding be applied to improve motivation in educational settings?
-
1. From your chief executive: How does a fl exible benefi ts scheme work and how would we benefi t from introducing one? 2. From the fi nance director: I am sure most of our employees do not...
-
Mohiam Publishing produces paperback books and had the following information available when 8,400 units were made: Administrative wages $29,400 Wages for factory workers 16,800 Paper 7,700 Rent on...
-
As chief investment officer of a small endowment fund, you are considering expanding the fund's strategic asset allocation from just common stock (CS) and fiXed-income (FI) to include private real...
-
Rowland Textile Inc. manufactures two products: sweatshirts and T-shirts. The manufacturing process involves two activities: cutting and sewing. Expected overhead costs and cost drivers are as...
-
In the circuit shown in Figure 4, a generator supplies a voltage of E(t) = 40 sin 60t volts, the inductance is H, the resistance is 20, and l(0) = 1 A. (a) Find l(t). (b) Find the current after 0.1...
-
The figure shows a circuit containing an electromotive force, a capacitor with a capacitance of C farads (F), and a resistor with a resistance of R ohms (). The voltage drop across the capacitor is...
-
In the circuit of Exercise 29, R = 2, C = 0.01 F, Q (0) = 0, and E(t) = 10 sin 60t. Find the charge and the current at time t.
-
Suppose you bought a new home for $210,000 using a 30-year mortgage with monthly payments of $1,218.841. The annual interest rate of the mortgage is 5.7%. After the first 3 years (36 monthly...
-
Rather than use the hypothetical information above, determine from available news sources if the Fed is increasing, holding steady, or decreasing interest rates. Similarly, is the Federal Government...
-
For a two-sided matching problem, we say that matching is Pareto efficient, if there is no matching ', such that and '(x) R (x) for all x WUF, '(x) Px (x) for some x WUF. Show that stability implies...
Study smarter with the SolutionInn App