MathMaster logo

MathMaster

  1. Home
  2. general
  3. 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
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 sum of 37, 54, and 89?
+
Math Question: Factorize the expression 8x^2 + 12xy - 20xz - 30x^2 + 40yz - 60xz using the distributive property and the factoring techniques.
+
Math question: Determine the value of x for which the tangent function f(x) = tan(x) equals 1/2.
+
New questions in Mathematics
𝑦 = ( π‘₯2 βˆ’ 3) (π‘₯3 + 2 π‘₯ + 1)
a ferry travels 1/6 of the distance between two ports in 3/7 hour. The ferry travels at a constant rate. At this rate, what fraction of the distance between the two ports can the ferry travel in one hour.
Revenue Maximization: A company sells products at a price of $50 per unit. The demand function is p = 100 - q, where p is the price and q is the quantity sold. How many units should they sell to maximize revenue?
Find the equation of the normal to the curve y=xΒ²+4x-3 at point(1,2)
3(4Γ—-1)-2(Γ—+3)=7(Γ—-1)+2
A car that starts from rest moves for 11 min, reaching a speed of 135 km/h, calculate the acceleration it had
The director of a company must transfer 6 people from the human resources department to the sales department, in order to sustain sales during the month of December. What is the probability that he will transfer only 2 of them?
Margin of error E=0.30 populations standard deviation =2.5. Population means with 95% confidence. What I the required sample size (round up to the whole number)
The function g:Q→Q is a ring homomorphism such that g(3)=3 and g(5)=5. What are the values of g(8) and g(9)?
15/5+7-5
The thermal representation f(x) = 20 times 0.8 to the power of x is known from an exponential function f. Specify the intersection point with the y-axis
7=-4/3y -1
In an audience of 4000 people, 2 people are chosen, at random, to appear on stage. How many ways can the people be chosen?
What is 75 percent less than 60
a survey showed that 3 out of 7 voters would vote in an election. based on this survey, how many people would vote in a city with 25,000 people?
nI Exercises 65-68, the latitudes of a pair of cities are given. Assume that one city si directly south of the other and that the earth is a perfect sphere of radius 4000 miles. Use the arc length formula in terms of degrees to find the distance between the two cities. 65. The North Pole: latitude 90Β° north Springfield, Illinois: latitude 40Β° north
A person runs 175 yards per minute write a variable that represents the relationship between time and distance
Find the equation of a straight line that has slope 3 and passes through the point of (1, 7) . Write the equation of the line in general forms
A triangle is cut by a line s parallel to the base in such a way that it divides the side of the triangle into parts in the ratio of 2 : 3. Find the other side of the triangle if it is known that the line s divides it into parts whose length is 5 cm.
23,456 + 3,451

You might be interested in