Finite Mathematics and Calculus with Applications (10th Edition)
Finite Mathematics and Calculus with Applications (10th Edition)
10th Edition
ISBN: 9780321979407
Author: Margaret L. Lial, Raymond N. Greenwell, Nathan P. Ritchey
Publisher: PEARSON
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Chapter 15.5, Problem 37E

Consumers’ and Producers’ Surplus Suppose that with the supply and demand for oil as in Exercise 35, the government sets the price at $264 per unit.

(a)    Use the supply function to calculate the quantity that will be produced at the new price.

(b)    Find the consumers’ surplus for the new price, using the quantity found in part (a) in place of the equilibrium quantity. How much larger is this than the consumers’ surplus in Exercise 35?

(c)    Find the producers’ surplus for the new price, using the quantity found in part (a) in place of the equilibrium quantity. How much smaller is this than the producers’ surplus in Exercise 35?

(d)    Calculate the difference between the total of the consumers’ and producers’ surplus under the equilibrium price and under the government price. Economists refer to this loss as the welfare cost of the government’s setting the price.

(e)    Because of the welfare cost calculated in part (d), many economists argue that it is bad economics for the government to set prices. Others point to the increase in the consumers’ surplus, calculated in part (b), as a justification for such government action. Discuss the pros and cons of this issue.

35.    Consumers’ and Producers’ Surplus Suppose the supply function for oil is given (in dollars) by

     S ( q ) = q 2 + 10 q ,

and the demand function is given (in dollars) by

     D ( q ) = 900 − 20 q − q 2 .

(a)    Graph the supply and demand curves.

(b)    Find the point at which supply and demand are in equilibrium.

(c)    Find the consumers’ surplus.

(d)    Find the producers’ surplus.

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Chapter 15 Solutions

Finite Mathematics and Calculus with Applications (10th Edition)

Ch. 15.1 - Find an antiderivative f(x)=8x7.Ch. 15.1 - Find 1t4dt.Ch. 15.1 - Find (6x2+8x9)dx.Ch. 15.1 - Find x32xdx.Ch. 15.1 - Find (3x+e3x)dx.Ch. 15.1 - Repeat Example 11(b) and 11(c) for the Burj...Ch. 15.1 - Prob. 7YTCh. 15.1 - Find the derivative of the following functions....Ch. 15.1 - Find the derivative of the following functions....Ch. 15.1 - Prob. 1E
Ch. 15.1 - Prob. 2ECh. 15.1 - Prob. 3ECh. 15.1 - Prob. 4ECh. 15.1 - Prob. 5ECh. 15.1 - Prob. 6ECh. 15.1 - Prob. 7ECh. 15.1 - Prob. 8ECh. 15.1 - Prob. 9ECh. 15.1 - Prob. 10ECh. 15.1 - Prob. 11ECh. 15.1 - Prob. 12ECh. 15.1 - Prob. 13ECh. 15.1 - Prob. 14ECh. 15.1 - Prob. 15ECh. 15.1 - Prob. 16ECh. 15.1 - Prob. 17ECh. 15.1 - Prob. 18ECh. 15.1 - Prob. 19ECh. 15.1 - Prob. 20ECh. 15.1 - Prob. 21ECh. 15.1 - Prob. 22ECh. 15.1 - Prob. 23ECh. 15.1 - Prob. 24ECh. 15.1 - Prob. 25ECh. 15.1 - Prob. 26ECh. 15.1 - Prob. 27ECh. 15.1 - Prob. 28ECh. 15.1 - Prob. 29ECh. 15.1 - Prob. 30ECh. 15.1 - Prob. 31ECh. 15.1 - Prob. 32ECh. 15.1 - Prob. 33ECh. 15.1 - Prob. 34ECh. 15.1 - Prob. 35ECh. 15.1 - Prob. 36ECh. 15.1 - Prob. 37ECh. 15.1 - Prob. 38ECh. 15.1 - Prob. 39ECh. 15.1 - Prob. 40ECh. 15.1 - Prob. 41ECh. 15.1 - Prob. 42ECh. 15.1 - Prob. 43ECh. 15.1 - Prob. 44ECh. 15.1 - APPLICATIONS Business and Economics Cost Find the...Ch. 15.1 - Prob. 46ECh. 15.1 - Prob. 47ECh. 15.1 - Cost Find the cost function for each marginal cost...Ch. 15.1 - Prob. 49ECh. 15.1 - Prob. 50ECh. 15.1 - Prob. 51ECh. 15.1 - Prob. 52ECh. 15.1 - Prob. 53ECh. 15.1 - Prob. 54ECh. 15.1 - Prob. 55ECh. 15.1 - Prob. 56ECh. 15.1 - Prob. 57ECh. 15.1 - Prob. 58ECh. 15.1 - Prob. 59ECh. 15.1 - Prob. 60ECh. 15.1 - Prob. 61ECh. 15.1 - Prob. 62ECh. 15.1 - Cell Growth Under certain conditions, the number...Ch. 15.1 - Prob. 64ECh. 15.1 - Prob. 65ECh. 15.1 - Prob. 66ECh. 15.1 - Prob. 67ECh. 15.1 - Prob. 68ECh. 15.1 - Prob. 69ECh. 15.1 - Prob. 70ECh. 15.1 - Prob. 71ECh. 15.1 - Prob. 72ECh. 15.1 - Prob. 73ECh. 15.1 - Prob. 74ECh. 15.2 - Prob. 1YTCh. 15.2 - Prob. 2YTCh. 15.2 - Prob. 3YTCh. 15.2 - Prob. 4YTCh. 15.2 - Prob. 5YTCh. 15.2 - Prob. 6YTCh. 15.2 - Prob. 1WECh. 15.2 - Prob. 2WECh. 15.2 - Prob. 3WECh. 15.2 - Prob. 1ECh. 15.2 - Prob. 2ECh. 15.2 - Prob. 3ECh. 15.2 - Prob. 4ECh. 15.2 - Prob. 5ECh. 15.2 - Prob. 6ECh. 15.2 - Prob. 7ECh. 15.2 - Prob. 8ECh. 15.2 - Prob. 9ECh. 15.2 - Prob. 10ECh. 15.2 - Prob. 11ECh. 15.2 - Prob. 12ECh. 15.2 - Prob. 13ECh. 15.2 - Prob. 14ECh. 15.2 - Prob. 15ECh. 15.2 - Prob. 16ECh. 15.2 - Prob. 17ECh. 15.2 - Prob. 18ECh. 15.2 - Prob. 19ECh. 15.2 - Prob. 20ECh. 15.2 - Prob. 21ECh. 15.2 - Prob. 22ECh. 15.2 - Prob. 23ECh. 15.2 - Prob. 24ECh. 15.2 - Prob. 25ECh. 15.2 - Prob. 26ECh. 15.2 - Prob. 27ECh. 15.2 - Prob. 28ECh. 15.2 - Prob. 29ECh. 15.2 - Prob. 30ECh. 15.2 - Prob. 31ECh. 15.2 - Prob. 32ECh. 15.2 - Prob. 33ECh. 15.2 - Prob. 34ECh. 15.2 - Prob. 35ECh. 15.2 - Prob. 36ECh. 15.2 - Prob. 37ECh. 15.2 - Prob. 38ECh. 15.2 - Prob. 39ECh. 15.2 - Prob. 40ECh. 15.2 - Prob. 41ECh. 15.2 - Prob. 42ECh. 15.2 - Prob. 43ECh. 15.2 - Prob. 44ECh. 15.2 - Prob. 45ECh. 15.2 - Prob. 46ECh. 15.3 - Prob. 1YTCh. 15.3 - Prob. 2YTCh. 15.3 - Prob. 1ECh. 15.3 - Prob. 2ECh. 15.3 - Prob. 3ECh. 15.3 - Prob. 4ECh. 15.3 - Prob. 5ECh. 15.3 - In Exercises 512, approximate the area under the...Ch. 15.3 - Prob. 7ECh. 15.3 - In Exercises 512, approximate the area under the...Ch. 15.3 - Prob. 9ECh. 15.3 - Prob. 10ECh. 15.3 - Prob. 11ECh. 15.3 - Prob. 12ECh. 15.3 - Prob. 13ECh. 15.3 - Prob. 14ECh. 15.3 - Prob. 15ECh. 15.3 - Prob. 16ECh. 15.3 - Prob. 17ECh. 15.3 - Prob. 18ECh. 15.3 - Prob. 19ECh. 15.3 - Prob. 20ECh. 15.3 - Prob. 21ECh. 15.3 - Prob. 22ECh. 15.3 - Prob. 24ECh. 15.3 - Prob. 25ECh. 15.3 - Prob. 26ECh. 15.3 - Prob. 27ECh. 15.3 - Prob. 28ECh. 15.3 - Prob. 29ECh. 15.3 - Prob. 30ECh. 15.3 - Prob. 31ECh. 15.3 - Prob. 32ECh. 15.3 - Prob. 33ECh. 15.3 - Prob. 34ECh. 15.3 - Prob. 35ECh. 15.3 - Prob. 36ECh. 15.3 - Prob. 37ECh. 15.3 - Prob. 38ECh. 15.3 - Prob. 39ECh. 15.3 - Prob. 40ECh. 15.4 - Prob. 1YTCh. 15.4 - Prob. 2YTCh. 15.4 - Prob. 3YTCh. 15.4 - Prob. 4YTCh. 15.4 - Prob. 5YTCh. 15.4 - Prob. 1WECh. 15.4 - Prob. 2WECh. 15.4 - Prob. 3WECh. 15.4 - Prob. 1ECh. 15.4 - Prob. 2ECh. 15.4 - Prob. 3ECh. 15.4 - Prob. 4ECh. 15.4 - Prob. 5ECh. 15.4 - Prob. 6ECh. 15.4 - Prob. 7ECh. 15.4 - Prob. 8ECh. 15.4 - Prob. 9ECh. 15.4 - Prob. 10ECh. 15.4 - Prob. 11ECh. 15.4 - Prob. 12ECh. 15.4 - Prob. 13ECh. 15.4 - Prob. 14ECh. 15.4 - Prob. 15ECh. 15.4 - Prob. 16ECh. 15.4 - Prob. 17ECh. 15.4 - Prob. 18ECh. 15.4 - Prob. 19ECh. 15.4 - Prob. 20ECh. 15.4 - Prob. 21ECh. 15.4 - Prob. 22ECh. 15.4 - Prob. 23ECh. 15.4 - Prob. 24ECh. 15.4 - Prob. 25ECh. 15.4 - Prob. 26ECh. 15.4 - Prob. 27ECh. 15.4 - Prob. 28ECh. 15.4 - Prob. 29ECh. 15.4 - Prob. 30ECh. 15.4 - Prob. 31ECh. 15.4 - Prob. 32ECh. 15.4 - Prob. 33ECh. 15.4 - Prob. 34ECh. 15.4 - Prob. 35ECh. 15.4 - Prob. 36ECh. 15.4 - Prob. 37ECh. 15.4 - Prob. 38ECh. 15.4 - Prob. 39ECh. 15.4 - Prob. 40ECh. 15.4 - Prob. 41ECh. 15.4 - Prob. 42ECh. 15.4 - Prob. 43ECh. 15.4 - Prob. 44ECh. 15.4 - Prob. 45ECh. 15.4 - Prob. 46ECh. 15.4 - Prob. 47ECh. 15.4 - Prob. 48ECh. 15.4 - Prob. 49ECh. 15.4 - Prob. 50ECh. 15.4 - Prob. 51ECh. 15.4 - Prob. 52ECh. 15.4 - Prob. 53ECh. 15.4 - Prob. 54ECh. 15.4 - Prob. 55ECh. 15.4 - Prob. 56ECh. 15.4 - Prob. 57ECh. 15.4 - Prob. 58ECh. 15.4 - Prob. 59ECh. 15.4 - Prob. 60ECh. 15.4 - Prob. 61ECh. 15.4 - Prob. 62ECh. 15.4 - Prob. 63ECh. 15.4 - Prob. 64ECh. 15.4 - Prob. 65ECh. 15.4 - Prob. 66ECh. 15.4 - Beagles The daily energy requirements of female...Ch. 15.4 - Prob. 68ECh. 15.4 - Prob. 69ECh. 15.4 - Prob. 70ECh. 15.4 - Prob. 71ECh. 15.4 - Prob. 72ECh. 15.5 - Repeat Example 1 for f(x) = 4 x2, g(x) = x + 2, x...Ch. 15.5 - Prob. 2YTCh. 15.5 - Repeat Example 3 for y = x2 3x and y = 2x on [0,...Ch. 15.5 - Prob. 4YTCh. 15.5 - Evaluate each of the following integrals....Ch. 15.5 - Prob. 2WECh. 15.5 - Prob. 1ECh. 15.5 - Prob. 2ECh. 15.5 - Prob. 3ECh. 15.5 - Prob. 4ECh. 15.5 - Prob. 5ECh. 15.5 - Prob. 6ECh. 15.5 - Prob. 7ECh. 15.5 - Prob. 8ECh. 15.5 - Prob. 9ECh. 15.5 - Prob. 10ECh. 15.5 - Prob. 11ECh. 15.5 - Prob. 12ECh. 15.5 - Prob. 13ECh. 15.5 - Prob. 14ECh. 15.5 - Prob. 15ECh. 15.5 - Prob. 16ECh. 15.5 - Prob. 17ECh. 15.5 - Prob. 18ECh. 15.5 - Prob. 19ECh. 15.5 - Prob. 20ECh. 15.5 - Prob. 21ECh. 15.5 - Prob. 22ECh. 15.5 - Prob. 23ECh. 15.5 - Prob. 24ECh. 15.5 - Prob. 25ECh. 15.5 - Prob. 26ECh. 15.5 - Prob. 27ECh. 15.5 - Prob. 28ECh. 15.5 - Prob. 29ECh. 15.5 - Prob. 30ECh. 15.5 - Prob. 31ECh. 15.5 - Prob. 32ECh. 15.5 - Consumers Surplus Find the consumers surplus if...Ch. 15.5 - Prob. 34ECh. 15.5 - Consumers and Producers Surplus Suppose the supply...Ch. 15.5 - Consumers and Producers Surplus Suppose the supply...Ch. 15.5 - Consumers and Producers Surplus Suppose that with...Ch. 15.5 - Prob. 38ECh. 15.5 - Prob. 39ECh. 15.5 - Prob. 40ECh. 15.5 - Prob. 41ECh. 15.5 - Prob. 42ECh. 15.6 - Prob. 1YTCh. 15.6 - Prob. 2YTCh. 15.6 - Prob. 1ECh. 15.6 - Prob. 2ECh. 15.6 - Prob. 3ECh. 15.6 - Prob. 4ECh. 15.6 - Prob. 5ECh. 15.6 - Prob. 6ECh. 15.6 - Prob. 7ECh. 15.6 - Prob. 8ECh. 15.6 - Prob. 9ECh. 15.6 - Prob. 10ECh. 15.6 - Prob. 11ECh. 15.6 - Prob. 12ECh. 15.6 - Prob. 13ECh. 15.6 - Prob. 14ECh. 15.6 - Exercises 1518 require both the trapezoidal rule...Ch. 15.6 - Prob. 16ECh. 15.6 - Prob. 17ECh. 15.6 - Prob. 18ECh. 15.6 - Prob. 19ECh. 15.6 - Prob. 20ECh. 15.6 - Prob. 21ECh. 15.6 - Prob. 22ECh. 15.6 - Prob. 23ECh. 15.6 - Prob. 24ECh. 15.6 - Prob. 25ECh. 15.6 - Prob. 26ECh. 15.6 - Prob. 27ECh. 15.6 - Prob. 28ECh. 15.6 - Prob. 29ECh. 15.6 - Prob. 30ECh. 15.6 - Prob. 31ECh. 15.6 - Prob. 32ECh. 15.6 - Prob. 33ECh. 15.6 - Prob. 34ECh. 15.6 - Prob. 35ECh. 15 - Determine whether each of the following statements...Ch. 15 - Prob. 2RECh. 15 - Prob. 3RECh. 15 - Prob. 4RECh. 15 - Determine whether each of the following statements...Ch. 15 - Prob. 6RECh. 15 - Prob. 7RECh. 15 - Prob. 8RECh. 15 - Prob. 9RECh. 15 - Prob. 10RECh. 15 - Prob. 11RECh. 15 - Prob. 12RECh. 15 - Prob. 13RECh. 15 - Prob. 14RECh. 15 - Prob. 15RECh. 15 - Prob. 16RECh. 15 - Prob. 17RECh. 15 - Prob. 18RECh. 15 - Prob. 19RECh. 15 - Prob. 20RECh. 15 - Prob. 21RECh. 15 - Prob. 22RECh. 15 - Prob. 23RECh. 15 - Prob. 24RECh. 15 - Prob. 25RECh. 15 - Prob. 26RECh. 15 - Prob. 27RECh. 15 - Prob. 28RECh. 15 - Prob. 29RECh. 15 - Prob. 30RECh. 15 - Prob. 31RECh. 15 - Prob. 32RECh. 15 - Prob. 33RECh. 15 - Prob. 34RECh. 15 - Prob. 35RECh. 15 - Prob. 36RECh. 15 - Prob. 37RECh. 15 - Prob. 38RECh. 15 - Prob. 39RECh. 15 - Prob. 40RECh. 15 - Prob. 41RECh. 15 - Prob. 42RECh. 15 - Prob. 43RECh. 15 - Prob. 44RECh. 15 - Prob. 45RECh. 15 - Prob. 46RECh. 15 - Prob. 47RECh. 15 - Prob. 48RECh. 15 - Prob. 49RECh. 15 - Prob. 50RECh. 15 - Prob. 51RECh. 15 - Prob. 52RECh. 15 - Prob. 53RECh. 15 - Prob. 54RECh. 15 - Prob. 55RECh. 15 - Prob. 56RECh. 15 - Prob. 57RECh. 15 - Prob. 58RECh. 15 - Prob. 59RECh. 15 - Prob. 60RECh. 15 - Prob. 61RECh. 15 - Prob. 62RECh. 15 - Prob. 63RECh. 15 - Prob. 64RECh. 15 - Prob. 65RECh. 15 - Prob. 66RECh. 15 - Prob. 67RECh. 15 - Prob. 68RECh. 15 - Prob. 69RECh. 15 - Prob. 70RECh. 15 - Prob. 71RECh. 15 - Prob. 72RECh. 15 - Prob. 73RECh. 15 - Prob. 74RECh. 15 - Prob. 75RECh. 15 - Prob. 76RECh. 15 - Prob. 77RECh. 15 - Prob. 78RECh. 15 - Prob. 79RECh. 15 - Prob. 80RECh. 15 - Prob. 81RECh. 15 - Prob. 82RECh. 15 - Sales The rate of change of sales of a new brand...Ch. 15 - Prob. 84RECh. 15 - Prob. 85RECh. 15 - Prob. 86RECh. 15 - QD 87. Oil Production The following table shows...Ch. 15 - Prob. 88RECh. 15 - Prob. 89RECh. 15 - Prob. 90RECh. 15 - Prob. 91RECh. 15 - Prob. 92RECh. 15 - Prob. 93RECh. 15 - Prob. 94RECh. 15 - Prob. 95RE
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