If D(p)=5400-60p and S(p) = 400+40p are demand and supply functions, respectively, find the equilibrium point. The equilibrium point is KILD

A study of a country's colleges and universities resulted in the demand equation q = 20,000 − 2p, where q is the enrollment at a public college or university and p is the average annual tuition (plus fees) it charges.† Officials at Enormous State University have developed a policy whereby the number of students it will accept per year at a tuition level of p dollars is given by q = 8,500 + 0.5p. Find the equilibrium tuition price  p  and the consumers' and producers' surpluses at this tuition level. What is the total social gain at the equilibrium price?

Last year OHaganBooks.com experimented with an online subscriber service, Red On Line (ROL), for its e-book service. The consumer demand for ROL was modeled by the equation q = 900e−p2 + p, where p was the monthly access charge and q is the number of subscribers. (a)Obtain a formula for the price elasticity of demand, E, for ROL services. E(p) = _____ (b)Compute the elasticity of demand if the monthly access charge is set at $2 per month. E(2) = _____ (c)How much (in dollars) should the company have charged to obtain the maximum monthly revenue? $ _____ How much (in dollars) would this revenue have been? $ ______

Currently, the hottest-selling item at OHaganBooks.com is Mensa for Dummies, with a demand curve of q = 80,000(28 − p)1/3 books per week and a supply curve of q = 160,000(p − 19)1/3 books per week where p is the price in dollars. (a) Find the equilibrium price p and demand q.     (b)Find the consumers' and producers' surpluses at the equilibrium price.

Find producer's surplus at the market equilibrium point if supply function is p= 0.7a+ 16 and the demand function is p=312 z+11 Answer:

Suppose that a price p and demand x are related through the price-demand equation x+400p=8,000. Calculate the value of p such that the elasticity of demand is equal to one.