Answer to Question #306086 in Microeconomics for Shii

Question #306086

The demand fuction p=4500-15Q² and the supply function p=5Q²+2500. Determine the consumer and producer surplus

Expert's answer

"p=4500-15q^2,"

"p=5q^2+2500,"

"20q^2=2000,"

"q=10,"

"p=3000."

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. The price elasticity of demand is -0.9.The income elasticity of demand is 0.5.The cross-price elasti
2. 5. If firm’s objective is to maximize total revenue at which point of the demand curve will it pro
3. 5. If firm’s objective is to maximize total revenue at which point of the demand curve will it pro
4. The demand curve for a good is Q = 60 – p and the supply curve is Q = p. The government imposes a
5. a) Explain the relationship between marginal cost, wage and marginal product of labour (9). b)
6. a) Use a diagram discuss and explain why marginal cost above its minimum average variable cost is ca
7. a) Use a diagram discuss and explain why marginal cost above its minimum average variable cost is ca