3. For the system belowa. Find the equilibrium pointsdxdtJustify your answers.=x(−4x − y + 160),dydt= y(-x² − y² +2500)

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Answered: 3. For the system below a. Find the…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. If the equilibrium price is $12 and the equilibrium quantity is 144 units, find the Consumer Surplus at the equilibrium point and then answer the question about Producer Surplus. 144 D(x)= S(x) = Vx %3D You must write a complete solution for part (a) and submit with your written work. Note: Consumer and Producer Surplus formulas are: Consumer Surplus: D(x)dx- PQ, Producer Surplus: PQ- | Sx)dx. [4 points] (a) The Consumer Surplus is S (Round to the nearest cent as needed.) (b) Which expression will give the correct value of the Producer Surplus? [2 points] O A. T 1 1A-(12|144) 0. -144 -(12)(144) |O B. 21 (12)(144)- [144 -0 OC. 3 2. 2, 21 144 3. (12)(144) D. 31 (12)(144)- 2. 144 E. (12)(144)- [12 -0 (Select the correct answer.) Click to select your answer(s).
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D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. D(x) = e X+2 S(x) = e x-6 a) Find the equilibrium point. b) Find the consumer surplus at the equilibrium point. c) Find the producer surplus at the equilibrium point. a) What are the coordinates of the equilibrium point? (Type an ordered pair. Round each coordinate to the nearest hundredth as needed. Do not include the $ symbol in your answer)
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3. For the system below a. Find the equilibrium points dx dt Justify your answers. = x(−4x − y + 160), dy dt = y(-x² − y² +2500)