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anonymous
 5 years ago
Find the consumer's surplus if the demand for an item is given by D(x)=72x2, assuming supply and demand are in equilibrium at x=6
anonymous
 5 years ago
Find the consumer's surplus if the demand for an item is given by D(x)=72x2, assuming supply and demand are in equilibrium at x=6

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amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0consumer surplus is everything above the equilibrium line; but whats the equation for supply?

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0helps if I read the qwestun all the way to the end :)

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0its the area under the curve..... i see that much :)

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0y = 36 when x = 6; so we need the area under the curve from [0,6] of the equation 36x^2

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0so how do we find the area

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.036x  (x^3)/3; at x=0 we get 0 at x = 6 we get... 36(6)  (6^3)/3 as the ansswer

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0its taking the antiderivative/indegral of the equation with the bounds established...

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0I get 144 as my answer

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0at x = 6; the y(equilib line) = 36 right?

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0so we just want the area under the top part for our consumer surplus

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0drop your equation by 36 to get it to the x axis: 7236 x^2 = 36  x^2 integrate 36  x^2 to get; 36x  (x^3)/3; and solve for x at 0 and 6

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0ook i know wat i did wrong

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0if you dont drop it; then you have to subtract the bottom part :)

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0:) this is the graphical representation ;)
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