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Concept explainers
In Exercises 1-14,
a. (a)
b. (b) $1.50
c. (c) $1
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Chapter 5 Solutions
Calculus and Its Applications (11th Edition)
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- bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.arrow_forward1. A company sells baseball cards. The cost equation to manufacture the product is given by C (x) = x^2 - x + 31. The company sells its cards for $ 3.00 each. Therefore, your income equation is R (x) = 3x, where R is income and x is the number of units sold in the week (in thousands). Find and interpret the equilibrium point. PLEASE SHOW STEPS CLEARLY.arrow_forwardSuppose that the direct demand and direct supply functions are x = √200 - p and x = √p - 38, respectively (where x is quantity and p is price). Solve for the equilibrium price and quantity. Using integral, determine the consumer, producer and social surplus.arrow_forward
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- 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?arrow_forwardAssume (FT2 = FT1 (1 + TIT2) + T1CT2 is the equilibrium situation. Also assume that T2- T1 is one year, that T1CT2 = $1 and that TirT2 = 10%. %3D Assume the initial prices are FOT1 = 100 & FOT2 = 133. A trader goes long the FT1 contract and short the FT2 contract believing these are not equilibrium prices and that he will profit when they adjust to equilibrium. Say the next day, t+ 1, the t+1FT1 price moves to 115 and t+1FT2 adjusts to an equilibrium price. If the trader round trips his positions on day t+1, what is his profit or loss on the FT2 position? profit of 11 loss of 11 cannot be determined from the information given profit of 5.5arrow_forward
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageLinear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage LearningAlgebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
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