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

99 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)

What is the limit as x approaches 3 of f(x) = 2x^2 - 5x + 1?

What is the amplitude, period, and range of the cotangent function f(x) = cot(x)?

What is the Rule for congruence of triangles that states if two angles and the included side of one triangle are equal to two angles and the included side of another triangle, then the triangles are congruent?

New questions in Mathematics

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?

What payment 7 months from now would be equivalent in value to a $3,300 payment due 23 months from now? The value of money is 2.7% simple interest. Round your answer to 2 decimal places. Show all work and how you arrive at the answer..

7273736363-8

what is the annual rate on $525 at 0.046% per day for 3 months?

4x-3y=5;x+2y=4

7/6-(-1/9)

The durability of a tire of a certain brand is a Normal random variable with an average of 64,000 km and a standard deviation of 9,000 km. Assuming independence between tires, what is the probability that the 4 tires on a car will last more than 58,000 km?

show step by step simplification: (¬𝑑∨((¬b∧c)∨(b∧¬c)))∧((𝑎 ∧ 𝑏) ∨ (¬𝑎 ∧ ¬𝑏))∧(¬𝑐∨((¬𝑑∧𝑎)∨(𝑑∧¬𝑎)))

John he’s going to the carnival with his friends. He spends $25 on an admission ticket. He buys 10 games at X dollars each and two boxes of popcorn at Y dollars each. Write an expression to show the total cost of admission game, tickets and popcorn.

The two sides of the triangle are 12 cm and 5 cm, and the angle between the sides is 60°. Cover the area of the triangle!

1. A capital of $3,831 was lent, and it has produced interest of $840 from 05-12-2022 to 1-12-2023. At what annual simple interest rate was the capital lent?

Two particles of electrical charges Q1=3.8×10-⁶C and q,=4.4×10-⁶C are separated in vacuum by a distance of 4.0.10-⁸ m. Since K=9.0.10⁹ N.m²/C², the intensity of the interaction force between them, in newtons, is?

48 kg of 30% sulfuric acid in a mixture of 10% and 40% sulfuric acid arose. How many kilograms were each of the original solutions?

A 20,000 kg school bus is moving at 30 km per hour on a straight road. At that moment, it applies the brakes until it comes to a complete stop after 15 seconds. Calculate the acceleration and the force acting on the body.

What is the total amount due and the amount of interest on a 3-year loan of $1,000 at a simple interest rate of 12% per year?

If sin A=0.3 and cos A=0.6, determine the value of tan A.

x²-7x+12=0

9n + 7(-8 + 4k) use k=2 and n=3

12[4 + (8 + 7) + 5]

Mark is gluing a ribbon around the sides of a picture frame. The frame is 11 inches long and 7 includes wide. How much ribbon does Mark need?

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