anonymous
  • anonymous
For the given supply and demand equations, find the consumer surplus. Demand Supply P=100 - 0.05x P=25 + 0.1 x
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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chestercat
  • chestercat
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anonymous
  • anonymous
p= 100 -0.05x multiplying with 20 on both side , we get 20p=2000-x
anonymous
  • anonymous
Why do you multiply with 20?
anonymous
  • anonymous
to make the equation easier

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anonymous
  • anonymous
Ok I guess I don't understand were the 20 came from I thought you were suppossed to set the equations equal to eachother....
anonymous
  • anonymous
then for the supply equation , we have to multiply it with 10 on both sides which wud be 10p=250+x
anonymous
  • anonymous
ok
anonymous
  • anonymous
solve for p and x p=75 and x=500
anonymous
  • anonymous
alright
anonymous
  • anonymous
because we are applyling tjhe equilibrium condition
anonymous
  • anonymous
because we are applyling tjhe equilibrium condition
anonymous
  • anonymous
so I got the p=75 and x=500 a different way but where do i go from there
anonymous
  • anonymous
now we find the consumer surplus triangle area where height would be 100 -75
anonymous
  • anonymous
25
anonymous
  • anonymous
base would be quantity traded which is 25 from from the supply equation
anonymous
  • anonymous
so 0.5*25*25=312.5
anonymous
  • anonymous
uh ok so none of my answers that I can chose from match up with that...?
anonymous
  • anonymous
I think this is the method.....sorry if its wrong
anonymous
  • anonymous
A.$6,250 B.$12,500 C.$19,000 D.$25,000 E.$26,000
anonymous
  • anonymous
Those are the answers I can chose from....
anonymous
  • anonymous
lemme c it once again then
anonymous
  • anonymous
For the given supply and demand equations, find the consumer surplus. Demand P=100 - 0.05x Supply P=25 + 0.1 x
anonymous
  • anonymous
sorry it is 6250
anonymous
  • anonymous
the base is not 25 its 500 right which is the quanity traded
anonymous
  • anonymous
so 500*25*0.5=6250
anonymous
  • anonymous
okay with that
anonymous
  • anonymous
Okay that works thank you!

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