Question: The demand function for a product is p=34-x2. If the equilibrium price is $9 per unit, what is the consumer's surplus? In the following equation

The demand function for a product is p=34-x2. If the equilibrium price is $9 per unit, what is the consumer's surplus? In the following equation p and C are in dollars and x is the number of units.

Step by Step Solution

★★★★★

3.33 Rating (156 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

034x2 gives x2 25 o... View full answer

Question Has Been Solved by an Expert!

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

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1386-M-C-L-A-D(4565).docx

120 KBs Word File

Students Have Also Explored These Related Calculus Questions!

The demand function for a product is p=100-4x. If the equilibrium price is $40 per unit, what is the consumer's surplus? In the following equation p and C are in dollars and x is the number of units.

The demand function for a product is p=200/ (x+2). If the equilibrium quantity is 8 units, what is the consumer's surplus? In the following equation p and C are in dollars and x is the number of...

The demand function for a product is p=49-x2 and the supply function is p=4x+4. Find the equilibrium point and the consumer's surplus there. In the following equation and C are in dollars and x is...

In this problem, p is in dollars and x is the number of units. The demand function for a product is p = 1 0 7 - x 2 . If the equilibrium price is $ 7 per unit, how many units will be purchased at...

In this problem, p, price, is in dollars and x is the number of units. The demand function for a product is p-179-x. If the equilibrium price is $10 per unit, what is the consumer's surplus? (Round...

8. -1 points HarMathAp11 13.4.017 In this problem, p is in dollars and x is the number of units. The demand function for a product is -131-x2. If the equilibrium price is $10 per unit, what is the...

Explain this graph: arium in the Pizza Market Market Equilibrium (cont.) (a) Market schedules Millions of Pizzas per Week Price per Quantity Quantity Surplus or Effect on Pizza Demanded Supplied...

HI PLEASE ANSWER ALL 1. Assume the market for apples is initially in equilibrium. Which of the following will result in a higher equilibrium price of apples? a. An increase in both the demand for and...

From the price above what is the equilibrum quantityI between supply and demand: I I million of gallons Round your answer to closest whole number Under these conditions, what is the consumer surplus?...

This is all that is given for the question Investment Appraisals You should perform a Cash Flow Analysis of the investments as per the Financial Director's specific requirements. Calculate Bryson...

Peanut and tree nut allergies are considered to be the most serious food allergies. According to the National Institute of Allergy and Infectious Diseases, roughly 1% of Americans are allergic to...

What is the difference between gain sharing and profit sharing?

The TRID will deliver to the consumer which the detail will be ? A . The monthly payment of a borrower B , the loan details

2.5 Novigrad city has elected a mayor who wishes to enact a new health initiative. She imposes a 10 percent tax on cigarettes to deter people from smoking. After one year, tax revenues from...

After 3 days a sample of radon-222 decayed to 58% of its original amount. (a) What is the half-life of radon-222? (b) How long would it take the sample to decay to 10% of its original amount?

Scientists can determine the age of ancient objects by a method called radiocarbon dating. The bombardment of the upper atmosphere by cosmic rays converts nitrogen to a radioactive isotope of carbon,...

A curve passes through the point (0, 5) and has the property that the slope of the curve at every point P is twice the y-coordinate of P. What is the equation of the curve?

Future value with perlodic rates. Denise has her heart set on being is millionaire. She decides that at the end of every yoac, the will put away $4,600 into her 7 want to be a millonare account" her...

7% 11.00 $20,000.00 7 3 Yield to maturity (Expected/Current) 4 Number of years to Future Liability 5 Future Liability 6 7 8 9 Coupon rate 10 Maturity (Years) 11 Face value 12 13 14 15 Bond 1 5.00% 12...

1. Campus Package Delivery (CPD) provides transportation services in and around Paradise. Its profits have been declining, and management is planning to add a package express service that is expected...