FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given: (x is number of items) Demand function: d(x) = 100 - 0.6x Supply function: s(ac) = 0.2ac Find the equilibrium quantity: Find the producers

image text in transcribed
Given: (x is number of items) Demand function: d(x) = 100 - 0.6x Supply function: s(ac) = 0.2ac Find the equilibrium quantity: Find the producers surplus at the equilibrium quantity: Use the box below to show your work. Be sure to show the algebraic work used for both parts. Full credit will be given to complete, correct solutions

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Basic College Mathematics W/Early Integers (Subscription)

Basic College Mathematics W/Early Integers (Subscription)

Authors: Elayn Martin Gay

3rd Edition

0134186419, 9780134186412

More Books

Students also viewed these Mathematics questions

Question

★★★★★
Lottery winnings are taxable for Federal income tax purposes. What many lottery hopefuls forget to factor into their tax considerations are that lottery winnings are also taxable in many states....

Answered: 1 week ago

Question

★★★★★
Many people believe that a public accountant cannot be truly independent when payment of fees is dependent on the management of the client. Explain a way of reducing this appearance of lack of...

Answered: 1 week ago

Question

★★★★★
Show that if F is IFR, then it is also IFRA, and show by counterexample that the reverse is not true.

Answered: 1 week ago

Question

★★★★★
The accountant for Healthy Medical Co., a medical services consulting firm, mistakenly omitted adjusting entries for (a) Unearned revenue earned during the year ($175,000) (b) Accrued wages...

Answered: 1 week ago

Question

★★★★★
All of the following are necessary for arbitrage to take place EXCEPT? A.no transactions costs. B. no sales or transfer taxes. C. the means to execute trades quickly. D. a willingness to undertake a...

Answered: 1 week ago

Question

★★★★★
EJERCICIO 3-3 Clculo de la tasa de costos indirectos [OA3] Harris Fabrics calcula cada ao su tasa de costos indirectos con base en las horas de mano de obra directa. A comienzos del ao se calcul que...

Answered: 1 week ago

Question

★★★★★
A rocket is launched from the ground and travels in a straight path. The angle of inclination of the rocket's path is 1.35 radians. (That is, the rocket's path and the ground form an angle measuring...

Answered: 1 week ago

Question

★★★★★
Suppose we have a uniform beam that is 60 centimetres long, and is simply supported at both ends. If the beam has a load of f(x) = 11 N/m applied to it, and has a flexural rigidity of 10,000 Nm,...

Answered: 1 week ago

Question

★★★★★
Crystal wants life insurance that will diversify her financial portfolio and build wealth. She is searching for a policy that uses an investment method that has the potential to grow at a maximum...

Answered: 1 week ago

Question

★★★★★
Mention and explain the job description of Distribution and Exhibition do fast and need correct answer with good explanation

Answered: 1 week ago

Question

★★★★★
3. Assignment Task Question No 1 a) Which is better, an investment that earns 10% compounded quarterly, one that earns 9.95% compounded monthly, or one that earns 9.9% compounded continuously? b) The...

Answered: 1 week ago

Question

★★★★★
1. Use the matrix method (together with elementary row transformations) to solve the following: 2x+3y+ z = 1 x+2y+2z = 2 2x+3y+z = 1. [4]

Answered: 1 week ago

Question

★★★★★
5. What is meant by the statement, when we attribute a different meaning to a situation, the situation will consequentially change for us?

Answered: 1 week ago

Question

★★★★★
10. Using a conflict in your local community as your starting point, discuss how conflicts can be resolved using the following strategies: a) Making the cake bigger b) Providing compensation that is...

Answered: 1 week ago

Question

★★★★★
9. What is meant by the statement, the context is only relevant to us if we understand what it is trying to say?

Answered: 1 week ago

Previous Question Next Question