Economics: supply and demand elasticity. The demand, D ( x ) , and supply S ( x ) , functions for a multipurpose printer are as follows: D ( x ) = q = 480 e − 0.003 x and S ( x ) = q = 150 e 0.004 x . a. Find the equilibrium point. Assume that x is the price in dollars. b. Find the elasticity of demand when x = $ 100 .
Economics: supply and demand elasticity. The demand, D ( x ) , and supply S ( x ) , functions for a multipurpose printer are as follows: D ( x ) = q = 480 e − 0.003 x and S ( x ) = q = 150 e 0.004 x . a. Find the equilibrium point. Assume that x is the price in dollars. b. Find the elasticity of demand when x = $ 100 .
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).
can you do it on paper please thanks ;)
A demand function is modeled by
x = a / pm
where a is a constant and m > 1.Show that
? = −m.
In other words, show that a 1% increase in price results in an m% decrease in the quantity demanded.
University Calculus: Early Transcendentals (3rd Edition)
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