Sabah A.
asked 02/20/21calculus 2 pls help
Find consumer's surplus at the market equilibrium point given that the demand function is
and the supply function is . p= sqrt(676-80x) and the supply function is p=x+8
1 Expert Answer
Yefim S. answered 02/20/21
Math Tutor with Experience
Find equlibrium:√ (676 -80x) = x + 8; 676 - 80x = x2 + 16x + 64; x2 + 96x - 612 = 0; (x +102)(x - 6) = 0;
x = 6 or x = -102. So equlibrium demand x = 6 and price p = 6 + 8 = 14.
Consumer surplus CS = ∫06[√(676 - 80x) - 14]dx = [- 1/80·2/3·(676 - 80x)3/2 - 14x]06 = - 1/120(2744 - 17576) - 84 = 39.6
Sabah A.
thank you so much02/21/21
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Stanton D.
The format of this question has been trashed, please check and resubmit, Sabah.02/20/21