Reference no: EM13800154

1. For the consumer's demand function(q) find the total amount of money consumers are willing to spend to get q0 units of the commodity. D(q)= 300/(0.1q +1)^2 dollars per unit; qx0= 5 units 2. p= D(q) is the price (dollars per unit) at which q units of a particular commodity will be demanded by the market (that is. all q units will be sold at this price), and q0 is a specified level of q0 units will be demanded and compute the corresponding consumers' surplus CS. d(q)=75e^(-0.0q); q0= 3 units 3. p= s(q0 is the price (dollars per unit) at which q units of a particular commodity will be supplied to the market by producers, and q0 is a specified level of production. In each case, find the price p0=s(q0) at which q0 units will be supplies and compute the corresponding producers' surplus PS. S(q)= 17+ 11e^0.01q; q0=7 units 4. The demand & supply functions, D(q) & S(q), for a particular commodity are given. Specifically, q thousand units of the commodity will be demanded (sold) at a price of p=D(q) dollars per unit, while q thousand units will be supplied by produces when the price is p= S(q) dollars per unit. A. Find the equilibrium price pe (where supply equals demand) B. Find the consumers' surplus and the producers' surplus at equilibrium. D(q)= Radical 245-2q; S(q)=5+q 5. Suppose that when it is t years old, a particular industrial machine generates revenue at the R'(t)=6,025-8t^2 dollars per year and that operating and servicing costs accumulate at the rate C'(t)=4,681+13t^2 dollars per year. How many years pass before the profitability of the machine begins to decline? Compete the net profit generated by the machine over its useful lifetime.