Suppose the supply function is S(q) q 2 10q and the demand function is D(q) 900 20q q 2 Find the point in which supply and demands are in equilibrium Find the consumers' surplus Find the producers' surplus

The Answer is in the image, click to view ...

Question: Suppose the supply function is S(q) = q 2 + 10q and the demand function is D(q) = 900 20q q 2 . Find the

Suppose the supply function is S(q) = q² + 10q and the demand function is D(q) = 900 20q q². Find the point in which supply and demands are in equilibrium. Find the consumers' surplus. Find the producers' surplus.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Suppose the supply function for a product is 2p -q-50-0, while the demand function for the same product is (p + 10)(q+30) = 7,000. Solve the supply function for q. 9- Substitute this value for q in...

A monopolist faces the demand function : x= 10 - 2p where x denotes sale and p denotes price. find the firm's revenue in terms of x also find the marginal revenue. 2. suppose cost of producing an...

I need help with Question 1.B. I completed Question 1.A, which should be correct. However, my approach to 1.B seems wrong, because the answers (quantity, price, profit values) seem incorrect compared...

Suppose the supply function for oil is given (in dollars) by S(q) = q 2 + 10q, and the demand function is given (in dollars) by D(q) = 900 - 20q - q 2 . (a) Graph the supply and demand curves. (b)...

Explain the following in this question is complete Simple linear regression is a statistical method that allows us to summarize and study relationships between two continuous (quantitative)...

Thank you in advance 9. Suppose the supply function for oil is given (in dollars) by S(q) = q2 + 10q The demand function is given (in dollars) by D(q) = 900 - 20q - q2 a. Find the equilibrium point...

Question 1 There are 10,000 identical individuals in the market for commodity X, each with a demand function given by Qodx = 12 - 2Px, and 1000 identical producers of commodity X, each with a...

Solve the following Question 1 There are 10,000 identical individuals in the market for commodity X, each with a demand function given by Qodx = 12 - 2Px, and 1000 identical producers of commodity X,...

Circle the one best answer, fill in the blank(s), or work out completely. Show calculations, please. 1. If supply decreases and demand also increases, we can conclude that the new equilibrium: a....

Explain the following questions attached below. Question 1 (understanding mean and variance of linear combinations of random variables) Let T_15 be the percentage of adult males who used tobacco...

LA solution of 250 ml 0,500M Na-acetate is to be made a burfer solutinn of pH-4.00, Ka for acetic acid-10-5, the milliliters of 1.50 M HCI tat should be added are:

Patients with non chronic low back pain were randomly assigned to either a treatment group that received health coaching via telephone plus physiotherapy care or a control group that received only...

In what kind of redemption must the lender usually be paid the amount in default plus any costs if the borrower wants the loan to be reinstated before a foreclosure sale? Question 2 8 options: None...

Si todos sus activos valieran $10,000 y comprara un televisor de alta gama por $2,000, cul de las siguientes es cierta? Seleccione uno: O a. Su patrimonio neto disminuir en $2,000 con la compra de...