Question

If the quantity demanded by Xi is given by X1=M/2p and given that p = 10, what is the consumer surplus when p falls to 5?

256

likes

1279 views

Answer to a math question If the quantity demanded by Xi is given by X1=M/2p and given that p = 10, what is the consumer surplus when p falls to 5?

$Expert avatar$

Seamus

4.9

92 Answers

X_1 = \frac{M}{2p}

Given $p = 10$:

X_1 = \frac{M}{20}

When $p$ falls to 5:

X_1' = \frac{M}{10}

Change in quantity demanded:

\Delta X_1 = \frac{M}{10} - \frac{M}{20} = \frac{M}{20}

Change in price:

\Delta P = 10 - 5 = 5

Consumer surplus:

CS = \frac{1}{2} \times \frac{M}{20} \times 5 = \frac{5M}{40} = \frac{M}{8}

Answer:

CS = \frac{M}{8}

Frequently asked questions (FAQs)

Question: Convert 2.5 miles to kilometers.

Math Question: In a constant function f(x) = c, what is the value of f(10) if c = 4?

What is the mixed number equivalent of the improper fraction 7/2? Factorize the number 36.

New questions in Mathematics

reduction method 2x-y=13 x+y=-1

Y=-x^2-8x-15 X=-7

A normally distributed population has a mean of 118 with a standard deviation of 18. What score separates the lowest 72% of the distribution from the rest of the scores?

String x = 5 Int y=2 System.out.println(x+y)

In a store there are packets of chocolate, strawberry, tutti-frutti, lemon, grape and banana sweets. If a person needs to choose 4 flavors of candy from those available, how many ways can they make that choice?

Suppose 56% of politicians are lawyers if a random sample of size 873 is selected, what is the probability that the proportion of politicians who are lawyers will be less than 55% round your answer to four decimal places

2x-4y=-6; -4y+4y=-8

4. Show that if n is any integer, then n^2 3n 5 is an odd integer

12(3+7)-5

6-35 A recent study by an environmental watchdog determined that the amount of contaminants in Minnesota lakes (in parts per million) it has a normal distribution with a mean of 64 ppm and variance of 17.6. Assume that 35 lakes are randomly selected and sampled. Find the probability that the sample average of the amount of contaminants is a) Greater than 72 ppm. b) Between 64 and 72 ppm. c) Exactly 64 ppm. d) Greater than 94 ppm.

Shows two blocks, masses 4.3 kg and 5.4 kg, being pushed across a frictionless surface by a 22.5-N horizontal force applied to the 4.3-kg block. A. What is the acceleration of the blocks? B. What is the force of the 4.3-kg block on the 5.4 -kg block? C. What is the force of the 5.4 -kg block on the 4.3 -kg block?

You want to study incomes in a large city. You take a simple random sample of 5012 households and find that the distribution of household incomes is skewed right. If you calculate the mean of the 5012 household incomes will the distribution of mean scores be skewed right as well? Hint: this involves the Central Limit Theorem.

5x+13+7x-10=99

A hardware bill totals $857.63 with discounts of 5% and 3%. What is the net cost of the Material ?

Let f and g be defined in R and suppose that there exists M > 0 such that |f(x) − f(p)| ≤ M|g(x) − g(p)|, for all x. Prove that if g is continuous in p, then f will also be continuous in p.

X^X =49 X=?

solve R the following equation 4 x squared - 35 - 9 over x squared is equal to 0

Farm Grown, Inc., produces cases of perishable food products. Each case contains an assortment of vegetables and other farm products. Each case costs $5 and sells for $15. If there are any not sold by the end of the day, they are sold to a large food processing company for $3 a case. The probability that daily demand will be 100 cases is 0.30, the probability that daily demand will be 200 cases is 0.40, and the probability that daily demand will be 300 cases is 0.30. Farm Grown has a policy of always satisfying customer demands. If its own supply of cases is less than the demand, it buys the necessary vegetables from a competitor. The estimated cost of doing this is $16 per case. (a) Draw a decision table for this problem (b) What do you recommend?

Identify the slope and y intercept y=11+2/3x

Matilde knows that, when driving her car from her office to her apartment, she spends a normal time of x minutes. In the last week, you have noticed that when driving at 50 mph (miles per hour), you arrive home 4 minutes earlier than normal, and when driving at 40 mph, you arrive home 5 minutes earlier later than normal. If the distance between your office and your apartment is y miles, calculate x + y.

If the quantity demanded by Xi is given by X1=M/2p and given that p = 10, what is the consumer surplus when p falls to 5?

Answer to a math question If the quantity demanded by Xi is given by X1=M/2p and given that p = 10, what is the consumer surplus when p falls to 5?

You might be interested in