Consumer Surplus and Producer Surplus In Exercises 83 and 84, (a) graph the systems of inequalities representing the consumer surplus and producer surplus for the supply and demand equations and (b) find the consumer surplus and producer surplus.
Demand Supply
Trending nowThis is a popular solution!
Chapter 6 Solutions
Bundle: College Algebra, Loose-leaf Version, 10th + WebAssign Printed Access Card for Larson's College Algebra, 10th Edition, Single-Term
Additional Math Textbook Solutions
Pre-Algebra, Student Edition
Linear Algebra and Its Applications (5th Edition)
College Algebra in Context with Applications for the Managerial, Life, and Social Sciences (5th Edition)
Introductory Algebra for College Students (7th Edition)
High School Math 2012 Common-core Algebra 1 Practice And Problem Solvingworkbook Grade 8/9
Elementary Linear Algebra (Classic Version) (2nd Edition) (Pearson Modern Classics for Advanced Mathematics Series)
- Break-Even Analysis In Exercises 55 and 56, use the equations for the total cost C and total revenue R to find the number x of units a company must sell to break even. (Round to the nearest whole unit.) C=8650+250,000,R=9502xarrow_forwardDirect Variation In Exercises 19-24, find a direct variation model that relates y and x. x=2,y=14arrow_forwardSystem of Linear Equations. In Exercises 57-62, use a software program or a graphing utility to solve the system of linear equations. 123.5x+61.3y32.4z=262.7454.7x45.6y+98.2z=197.442.4x89.3y+12.9z=33.66arrow_forward
- Redo Exercise 5, assuming that the house blend contains 300 grams of Colombian beans, 50 grams of Kenyan beans, and 150 grams of French roast beans and the gourmet blend contains 100 grams of Colombian beans, 350 grams of Kenyan beans, and 50 grams of French roast beans. This time the merchant has on hand 30 kilograms of Colombian beans, 15 kilograms of Kenyan beans, and 15 kilograms of French roast beans. Suppose one bag of the house blend produces a profit of $0.50, one bag of the special blend produces a profit of $1.50, and one bag of the gourmet blend produces a profit of $2.00. How many bags of each type should the merchant prepare if he wants to use up all of the beans and maximize his profit? What is the maximum profit?arrow_forwardHeight and Weight For a healthy person who is 4 feet 10 inches tall, the recommended minimum weight is about 91 pounds and increases by about 3.6 pounds for each additional inch of height. The recommended maximum weight is about 115 pounds and increases by about 4.5 pounds for each additional inch of height. (a) Let x be the number of inches by which a person’s height exceeds 4 feet 10 inches and let y be the person’s weight (in pounds). Write a system of inequalities that describes the possible values of x and y for a healthy person. (b) Use a graphing utility to graph the system of inequalities from part (a). (c) What is the recommended weight range for a healthy person who is 6 feet tall?arrow_forwardThe table below gives the quantity of dental extractors demanded and the quantity supplied for selected prices. (a) Find the linear equation that gives the price as a function of the quantity demanded. (b) Find the linear equation that gives the price as a function of the quantity supplied. (c) Use these equations to find the market equilibrium price. Price Quantity ($) Demanded (thousands) Supplied (thousands) 20 30 40 50 100 Quantity 765 715 665 615 365 0 400 800 1200 3200 C (a) What is the price as a function of the quantity demanded? p= (Type an expression using q as the variable. Type your answer in slope-intercept form.) (b) What is the price as a function of the quantity supplied? p= (Type an expression using q as the variable. Type your answer in slope-intercept form.) (c) What is the market equilibrium price? $arrow_forward
- Trigonometry (MindTap Course List)TrigonometryISBN:9781337278461Author:Ron LarsonPublisher:Cengage LearningBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
- Linear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage LearningElementary Linear Algebra (MindTap Course List)AlgebraISBN:9781305658004Author:Ron LarsonPublisher:Cengage Learning