Homework Answers
Pd=6√78-x
PS=3√102+x
At equilibrium Pd=PS
2√78-x=√102+x
Squaring both sides
4(78-x)=102+x
312-4x=102+x
210=5x
x=42
P=36
Producer surplus=1/2(36-3√102)42
=21×5.7
=120
Consumer surplus=1/2×(6√78-36)×42
=356
B)
Pd=PS
6√83-x=3√102+x
Squaring both sides
4(83-x)=102 +x
332-4x=102+x
X=46
P=36.5
Producer surplus=1/2(36.5-3√102)46
=143
Consumer surplus=1/2(6√83-36.5)46
=417
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consumer and producer surplus
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On here I have to calculate the consumer surplus Change and on the
second the producer surplus changw . I count the triangle of
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Use the black point (plus symbol) to indicate the equilibrium
price of a ton of oranges and the equilibrium quantity of oranges
in Zambia in the absence of international trade. Then, use the
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