3 s) Suppose that the direct demand and direct supply functions are q = - - 1 and q = 1 respectively (where q 32.5 Р p-1 0.01' is quantity and p is price). Show that the equilibrium price and quantity are 1.25 and 25, respectively. Using integral, determine the consumer, producer and social surplus.
3 s) Suppose that the direct demand and direct supply functions are q = - - 1 and q = 1 respectively (where q 32.5 Р p-1 0.01' is quantity and p is price). Show that the equilibrium price and quantity are 1.25 and 25, respectively. Using integral, determine the consumer, producer and social surplus.
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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answer 3 only
![next x years is R(x) = 19 x where x = [0,6]. The annual interest rate is 12% compounded continuously.
3
32.5
Р
p-1
0.01
s) Suppose that the direct demand and direct supply functions are q = -1 and q = respectively (where q
is quantity and p is price). Show that the equilibrium price and quantity are 1.25 and 25, respectively. Using integral,
determine the consumer, producer and social surplus.
4
Suppose that the inverse demand and supply functions are p = 200- x² and p = x² + 38, respectively (where
x is quantity and p is price). Using integral, determine the consumer, producer and social surplus.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe6632444-f30b-4f54-8e4a-3ffbb89bd0c3%2Fcb4a8bf5-e6f6-4ec0-b27a-610394f1fd83%2Fh60b0c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:next x years is R(x) = 19 x where x = [0,6]. The annual interest rate is 12% compounded continuously.
3
32.5
Р
p-1
0.01
s) Suppose that the direct demand and direct supply functions are q = -1 and q = respectively (where q
is quantity and p is price). Show that the equilibrium price and quantity are 1.25 and 25, respectively. Using integral,
determine the consumer, producer and social surplus.
4
Suppose that the inverse demand and supply functions are p = 200- x² and p = x² + 38, respectively (where
x is quantity and p is price). Using integral, determine the consumer, producer and social surplus.
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