Use the graph to answer the question that follows.$600Price ($)TVW$400X15,00020,000SDQuantityAssume that the market shown is perfectly competitive with no externalities. If the production output is 15,000 units, thenO total surplus is T + Xdeadweight loss is being minimizeddeadweight loss is being maximizedO there is a deadweight loss of U + WO consumer and producer surplus are maximized

Based on the information provided in the graph, the correct answer is that there is a deadweight…

Answered: Use the graph to answer the question…

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter6: Systems Of Equations And Inequalities

Section: Chapter Questions

Problem 21T: A manufacturer produces two models of television stands. The table at the left shows the times (in...

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Similar questions

A manufacturer produces two models of television stands. The table at the left shows the times (in hours) required for assembling, staining, and packaging the two models. The total times available for assembling, staining, and packaging are 3750 hours, 8950 hours, and 2650 hours, respectively. The profits per unit are $30 for model I and $40 for model II. What is the optimal inventory level for each model? What is the optimal profit?
Making furniture Two woodworkers, Chase and Devin, get 100 for making a table and 80 for making a chair. On average, Chase must work 3 hours and Devin 2 hours to make a chair. Chase must work 2 hours and Devin 6 hours to make a table. If neither wishes to work more than 42 hours per week, how many tables and how many chairs should they make each week to maximize their income? Find the maximum income. Table Chair Time Available Devins Time hr 6 2 42 Chases Time hr 2 3 42 Income 100 80
In Example 3, if the accountant earns a profit of 100 on each individual return and a profit of 175 on each business return, find the maximum profit. An accountant prepares tax returns for individuals and for small businesses. On average, each individual return requires 3 hours of her time and 1 hour of computer time. Each business return requires 4 hours of her time and 2 hours of computer time. Because of other business considerations, her time is limited to 240 hours, and the computer time is limited to 100 hours. If she earns a profit of 80 on each individual return and a profit of 150 on each business return, how many returns of each type should she prepare to maximize her profit?
The manufacturer of a weight training bench spends $120 to build each bench and sells them for $170. The manufacturer also has fixed costs each month of $150,000. (a) Find the cost function C when x benches are manufactured. (b) Find the revenue function R when x benches are sold. (c) Show the break-even point by graphing both the Revenue and Cost functions on the same grid. (d) Find the break-even point. Interpret what the break-even point means.
The manufacturer of an energy drink spends $1.20 to make each drink and sells them for $2. The manufacturer also has fixed costs each month of $8,000. (a) Find the cost function C when x energy drinks aremanufactured. (b) Find the revenue function R when x drinks are sold. (c) Show the break-even point by graphing both the Revenue and Cost functions on the same grid. (d) Find the break-even point. Interpret what the breakeven point means.

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