Find the consumers surplus if the demand function for extra virgin olive oil is given (in dollars)
Question:
Find the consumers’ surplus if the demand function for extra virgin olive oil is given (in dollars) by
and if supply and demand are in equilibrium at q = 6.
Transcribed Image Text:
D(q) = 32,000 (2q + 8)³¹
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
is the equilibrium q...View the full answer
Answered By
Lisper Wanja
I am an experienced and highly motivated writer with a passion for the skills listed. I have a proven track record of my expertise and my aim is to deliver quality, well-detailed and plagiarism free projects. My genuine passion for writing combined with my ongoing professional development through school and research makes me an ideal candidate within for any assignment.
4.90+
233+ Reviews
388+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
Find the consumers surplus if the demand function for grass seed is given (in dollars) by assuming supply and demand are in equilibrium at q = 3. D(q) = = 200 (3q + 1)
-
If the demand function for q units of a product at $p per unit is given by p(q + 1)2 = 200,000 find the rate of change of quantity with respect to price when p = $80. Interpret this result.
-
If the demand function for q units of a commodity at $p per unit is given by p2 (2q + 1) = 100,000 find the rate of change of quantity with respect to price when p = $50. Interpret this result.
-
With only a straightedge and compass, use a number line and the Pythagorean theorem to construct a segment whose length is 2. Measure the segment as accurately as possible, and write your answer in...
-
Medici Inc., has the following stockholders equity section of the balance sheet: Medici Inc. Balance Sheet (Partial) Required: 1. How many shares of preferred stock are authorized? 2. How many shares...
-
What are the two main branches of statistics?
-
A beam of protons enters the network of five chambers shown in Figure P27.56 with an initial speed of \(300 \mathrm{~m} / \mathrm{s}\) and moves through the network along the path indicated by the...
-
Mason Companys cost structure contains a number of different cost behavior patterns. Following are descriptions of several different costs; match these to the appropriate graphs. On each graph, the...
-
Show work in terms of time lines or formulas ( No Excel) 4. A investment project generates the following incremental cash inflows over the next 5 years, C = $1.5 million, C = $1.3 million, C3 = $1...
-
Use substitution to find each indefinite integral. log x X dx
-
In Exercises, use the definite integral to find the area between the x-axis and f(x) over the indicated interval. Check first to see if the graph crosses the x-axis in the given interval. f(x) = 4x ...
-
Using the method of Sec. 7.6, solve Prob. 7.39. Problem 7.39: For the beam and loading shown, (a) Draw the shear and bending-moment diagrams, (b) Determine the maximum absolute values of the shear...
-
Use object-oriented design to design a class to manage a share portfolio. Shareholdings are identified by the company name, the number of shares purchased, the date of the purchase, the cost per...
-
A project with expected NOI of $500 000 next year. NOI grow at 3% thereafter, forever. If the required rate of return 13 % and a new building cost is $ 4 000 000, what is the value of land? 2. A...
-
Chevy Corp. has common shares with a current total market value of $75,000,000, and a cost of equity of 29%. The company has total debt outstanding that has a market value of $60,000,000 and a cost...
-
On November 1st, 2020, Gracie Cosmetics took out a loan of 209,842 to build a new location by the town mall. The bank charges them an annual rate of 9% beginning on November 1st. Gracie Cosmetics...
-
Carlos has worked very hard through his career as a teacher and is contemplating an early retirement. He already has a pension in place commencing at retirement age but wants to cut back on his...
-
Suppose Noah and Naomi's short-run weekly production function for garden benches is where L represents the number of hours of labor employed. The wage rate is $15 an hour. What is their cost...
-
In the circuit shown in Figure 4, a battery supplies a constant voltage of 40 V, the inductance is 2 H, the resistance is 10, and l(0) = 0. (a) Find l(t). (b) Find the current after 0.1s.
-
In Exercises 43 through 50, find the indicated limit or show that it does not exist using the following facts about limits involving the functions f(x) and g(x): lim f(x) = 5 lim g(x): -2 and X-C and...
-
Belinda, a Florida citrus grower, estimates that if 60 orange trees are planted, the average yield per tree will be 400 oranges. The average yield will decrease by 4 oranges per tree for each...
-
As an alternative to Friends rule and Cowlings rule, pediatricians sometimes use the formula to estimate an appropriate drug dosage for a child whose surface area is S square meters, when the adult...
-
In the low-urgency scenarios, which actions were the most effective in achieving your desired outcomes and why? What about the high-urgency scenarios? Why is it more difficult to lead change in a...
-
Please write Apply content marketing fundamentals principles to develop a basic content marketing strategy and plan including: storytelling, content marketing mission, audience persona, brand voice,...
-
i. What affect would an increase in the duration of activity H of 6 days have on the project completion date? Explain your answer. ii. What affect would an increase in the duration of activity H of 3...
Study smarter with the SolutionInn App