The equilibrium point where D ( x ) = 1000 − 10 x is the price, in dollars per unit, that consumers will pay for x units of an item, and S ( x ) = 250 + 5 x is the price, in dollars per unit, that producers will accept for x units.

Question

Want to see the full answer?

Answer 1

Question

Chapter 5.1, Problem 8E

(a)

To determine

To calculate: The equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

(b)

To determine

To calculate: The consumer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

(c)

To determine

To calculate: The producer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

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. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. D(x) = (x – 9)?, S(x) = x² + 2x + 21

16.

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. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point 5 D(x)=x+ 10, S(x) = - 6 1 =x+2 (a) Find the equilibrium point (Type an ordered pair, using integers or decimals.) (b) Find the consumer surplus at the equilibrium point $ (Type an integer or a decimal) (c) Find the producer surplus at the equilibrium point $(Type an integer or a decimal )

Answer 2

Question

Chapter 5.1, Problem 8E

(a)

To determine

To calculate: The equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

(b)

To determine

To calculate: The consumer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

(c)

To determine

To calculate: The producer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 5.1, Problem 8E

(a)

To determine

To calculate: The equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

(b)

To determine

To calculate: The consumer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

(c)

To determine

To calculate: The producer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 5.1, Problem 8E

(a)

To determine

To calculate: The equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

(b)

To determine

To calculate: The consumer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

(c)

To determine

To calculate: The producer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 5.1, Problem 8E

(a)

To determine

To calculate: The equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

(b)

To determine

To calculate: The consumer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

(c)

To determine

To calculate: The producer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Answer 6

Chapter 5.1, Problem 8E

(a)

To determine

To calculate: The equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Answer 7

Chapter 5.1, Problem 8E

(a)

To determine

To calculate: The equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Answer 8

(b)

To determine

To calculate: The consumer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Answer 9

(b)

To determine

To calculate: The consumer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Answer 10

(c)

To determine

To calculate: The producer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Answer 11

(c)

To determine

To calculate: The producer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 15

Ch. 5.1 - In Exercises 1-14, is the price, in dollars per...Ch. 5.1 - In Exercises 1-14, is the price, in dollars per...Ch. 5.1 - In Exercises 1-14, D(x) is the price, in dollars...Ch. 5.1 - In Exercises 1-14, is the price, in dollars per...Ch. 5.1 - In Exercises 1-14, D(x) is the price, in dollars...Ch. 5.1 - In Exercises 1-14, D(x) is the price, in dollars...Ch. 5.1 - In Exercises 1-14, D(x) is the price, in dollars...Ch. 5.1 - Prob. 8E Ch. 5.1 - Prob. 9E Ch. 5.1 - Prob. 10E

The equilibrium point where D ( x ) = 1000 − 10 x is the price, in dollars per unit, that consumers will pay for x units of an item, and S ( x ) = 250 + 5 x is the price, in dollars per unit, that producers will accept for x units.

Solution Summary: The author calculates the equilibrium point at which demand function is equal to supply function.

Concept explainers

Videos

To calculate: The equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

To calculate: The consumer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

To calculate: The producer surplus at the equilibrium point where D(x)=1000−10x is the price, in dollars per unit, that consumers will pay for x units of an item, and S(x)=250+5x is the price, in dollars per unit, that producers will accept for x units.

Want to see the full answer?

Chapter 5 Solutions

Additional Math Textbook Solutions