Question

For the given supply and demand equations, find the consumer surplus.
Demand Supply
P=100 - 0.05x P=25 + 0.1 x

Answer 1

p= 100 -0.05x
multiplying with 20 on both side , we get
20p=2000-x

Answer 2

Why do you multiply with 20?

Answer 3

to make the equation easier

Answer 4

Ok I guess I don't understand were the 20 came from I thought you were suppossed to set the equations equal to eachother....

Answer 5

then for the supply equation , we have to multiply it with 10 on both sides
which wud be 10p=250+x

Answer 6

ok

Answer 7

solve for p and x
p=75 and x=500

Answer 8

alright

Answer 9

because we are applyling tjhe equilibrium condition

Answer 10

because we are applyling tjhe equilibrium condition

Answer 11

so I got the p=75 and x=500 a different way but where do i go from there

Answer 12

now we find the consumer surplus triangle area
where height would be 100 -75

Answer 13

25

Answer 14

base would be quantity traded which is 25 from from the supply equation

Answer 15

so 0.5*25*25=312.5

Answer 16

uh ok so none of my answers that I can chose from match up with that...?

Answer 17

I think this is the method.....sorry if its wrong

Answer 18

A.$6,250
B.$12,500
C.$19,000
D.$25,000
E.$26,000

Answer 19

Those are the answers I can chose from....

Answer 20

lemme c it once again then

Answer 21

For the given supply and demand equations, find the consumer surplus.
Demand P=100 - 0.05x
Supply P=25 + 0.1 x

Answer 22

sorry it is 6250

Answer 23

the base is not 25 its 500 right which is the quanity traded

Answer 24

so 500*25*0.5=6250

Answer 25

okay with that

Answer 26

Okay that works thank you!