Find the producer's surplus if the supply function for pork bellies is given by the following: S(q) = q^{5 / 2} + 4q^{3 / 2} + 52. Assume supply and demand are in equilibrium at q = 16. | Homework.Study.com (2024)

Business Economics Economic surplus

Question:

Find the producer's surplus if the supply function for pork bellies is given by the following:

{eq}\mathbf S(q) = q^{\dfrac {5}{2}} + 4q^{\dfrac {3}{2}} + 52{/eq}.

Assume supply and demand are in equilibrium at {eq}q = 16{/eq}.

Producer's Surplus:

  • There is a price that a producer sets for his product that included his cost and profit but the same product is demanded in the market at a higher price. This leads the producer to make a surplus profit in addition to what we actually wanted. This extra amount of money that he is able to earn is known as the Producer's Surplus.
  • We can apply the following integral formula to find the total amount of the surplus income.

{eq}\hspace{1cm} \displaystyle S_{\text{Producer}}^{\text{surplus}} = \int (P_{\text{Indicated/equilibrium}}^{Price}- \text{Supply}^{Price} )\ \text{d}x\\{/eq}

Answer and Explanation:1

Given Data

$$\begin{align}\text{Supply:} ~ \mathbf S(q) &= q^{\dfrac {5}{2}} + 4q^{\dfrac {3}{2}} + 52\\[0.3cm]q _0 &=...

See full answer below.

Become a member and unlock all StudyAnswers

Start today. Try it now

Create an account

Ask a question

Our experts can answer your tough homework and study questions.

Ask a question Ask a question

Search Answers

Learn more about this topic:

Find the producer's surplus if the supply function for pork bellies is given by the following: S(q) = q^{5 / 2} + 4q^{3 / 2} + 52. Assume supply and demand are in equilibrium at q = 16. | Homework.Study.com (1)

Get access to this video and our entire Q&A library

Try it now

Producer Surplus Overview, Formula & Example

from

Chapter 3/ Lesson 61

28K

Learn the producer surplus definition and understand how to calculate it with the producer surplus formula. See how a profit is made with a producer surplus example.

Related to this Question

  • Find the producer's surplus if the supply function for pork bellies is given by the following. S(q) = q^{5 / 2} + 3q^{3 / 2} +50 Assume supply and demand are in equilibrium at q = 16.
  • Find the producers' surplus if the supply function for pork bellies is given by the following. S(q) = q^{5/2} + 2q^{3/2} + 53 Assume supply and demand are in equilibrium at q = 25.
  • Find the producers' surplus if the supply function for pork bellies is given by the following: S(q) = q^(5/2) + 2q^(3/2) + 50. Assume supply and demand are in equilibrium at q = 9.
  • Find the producer's surplus function for pork bellies is given by the following \\ s(q) = q^{\frac{5}{2 + 2q^{\frac{3}{2 + 55 \\ Assume supply and demand are in equilibrium at q = 25. (Round to t
  • Find the producers' surplus if the supply function for pork bellies is given by the following. S(q) = q^{\frac{5}{2 + 2q^{\frac{3}{2 + 50 Assume supply and demand are in equilibrium at q = 9 . The producers' surplus is \$\boxed{\space}.
  • Find the producers' surplus if the supply function for pork bellies is given by the following. S(q) = q^{\frac{7}{2 + 4q^{\frac{5}{2 + 52 Assume supply and demand are in equilibrium at q = 16 . The producers' surplus is \$\boxed{\space}
  • Find the producers' surplus if the supply function for pork bellies is given by S(q) = q^\frac{5}{2} + 2q^\frac{3}{2} + 50. Assume supply and demand are in equilibrium at q = 16.
  • Find the producer's surplus if the supply function for pork bellies is S(q) = q^{5/2} + 3q^{3/2} + 53.Assume supply and demand are in equilibrium at q = 9.
  • Find the producers' surplus if the supply function for pork bellies is given by the following S(q) = q^{7 / 2} + 4q^{5 / 2} + 50 Assume supply and demand are in equilibrium at q = 4.
  • Find the producer's surplus if the supply function for pork bellies is given by the following. S(q)=q^{\frac{7}{2+3q^{\frac{5}{2+54 Also, consumer surplus: \int_{0}^{q_o} D(q)-p_o dq, producer surplus: \int_{0}^{q_o}p_o-S(q)dq
  • Find the producers' surplus if the supply function for pork bellies is given by the following. S(q) = q^5/2 + 2q^3/2 + 53
  • Find the producers' surplus if the supply function is given by S (q) = q^2 + 4 q +20. Assume supply and demand are in equilibrium at q = 24, with p = S (24) = 692.
  • Find the producers' surplus if the supply function is given by S(q) = q^2 + 4q + 20. Assume supply and demand are in equilibrium at q = 24.
  • Find the producers' surplus if the supply function of some item is given by S (q) = q^2 + 2q + 8. Assume supply and demand are in equilibrium at q = 30.
  • Find the producer's surplus if the supply function is p = S\left( q \right) = \sqrt {200 + 5q} and the supply and demand functions are in equilibrium when p = $25.
  • Find producer's surplus at the market equilibrium point if the supply function is p = 0.7x + 4 and the demand function is p = 62.3 / x.
  • Find the producer's surplus at the market equilibrium point if supply function is p=0.6x+5 and the demand function is p=\frac{142.8}{x+18}.
  • Find producer's surplus at the market equilibrium point if supply function is: p = 0.7x + 4 and the demand function is p = 62.3 / x.
  • Find producer's surplus at the market equilibrium point if supply function is p=0.2x+12 and the demand function is p=\frac{62}{(x+3)} .
  • Find producer's surplus at the market equilibrium point if supply function is p = 0.3x + 9 and the demand function is p = \frac{216}{x} + 8.
  • Let the demand function be given by p = 45 - x^2 and the supply function be given by p = x^2 + 27. (a) Find the consumer surplus. (b) Find the producer surplus.
  • Given the demand function d(x)=120-0.16x and supply function s(x)=0.08x. a. Find the equilibrium price and quantity. b. Find the consumer's Surplus. c. Find the Producer's Surplus.
  • Find the producer's surplus at the market equilibrium point if the supply function is p = 0.6x + 18 and the demand function is p = fraction 324 x + 9
  • For the following functions: Demand: D(x) = 13 - x Supply: S(x) = x^2 + 1. Find the equilibrium point, consumer's surplus and producer's surplus.
  • Find the producer surplus if the supply function is given by S(x)=x^2+4x+20. Assume that supply and demand are in equilibrium at x=24.
  • Find the producers' surplus if the supply function of some item is given by S(q) = q^2 + 2q + 8. Assume supply and demand are in equaiibrium at q = 30.
  • The supply function for a product is given by the function S(x) = 5/9 x^2 + 144. Find the producers' surplus if x_epsilon = 18 units. Consider the following demand and supply functions. D(x) = 50 - 0.
  • Find the Producer's Surplus and the Consumer's Surplus if the demand and supply are given below.
  • Find producer's surplus at the market equilibrium point if supply function is p = 0.2x + 13 and the demand function is p = fraction {321.2}{x + 14}.
  • Given: \\ Demand function: d(x)= 1347.5-0.6x^2\\ Supply function: s(x)=0.5x^2\\ a) Find the equilibrium quantity.\\ b) Find the producers surplus at the equilibrium quantity.
  • Given the following supply and demand functions: s(x) = 3x + 3 d(x) = -3x + 5 (a) Find the consumer's surplus. (b) Find the producer's surplus.
  • Find consumer's surplus at the market equilibrium point given that the demand function is p=\sqrt{169-40x} and the supply function is p=x+4.
  • Find consumer's surplus at the market equilibrium point given that the demand function is p = square root{1089 - 100 x}| and the supply function is p = x + 9|.
  • Find producer's surplus at the market equilibrium point if supply function is p=0.6 x+18 and the demand function is p= \frac {388.8}{(x+12)}.
  • Given supply S(x) = 4x + 10 and demand D(x) = 20 - x. A) Find the equilibrium point (x_0, y_0). B) Find consumer's surplus. C) Find producer's surplus.
  • Find the producer's surplus if the supply function is p = S(q) = \sqrt{200 + 5q} and the supply and demand functions are in equilibrium when p = $25. Give the producer's surplus rounded off to the nearest penny.
  • The demand function is p = \sqrt{49 - 6x} and the supply function is p = x + 1. Find the consumer's surplus and the producer's surplus.
  • The demand function is p = sqrt(49 - 6q) and supply function is p = q + 1. Find the consumer's surplus and producer's surplus.
  • The demand function for a certain product is p = 81 - x^2 and the supply function is p = x^2 + 8x + 39. 1. Find the equilibrium point. 2. Find the consumer's surplus there.
  • Given: ( x is number of items ) Demand function: d(x) = 500-0.3x Supply function: s(x) = 0.5x (a) Find the equilibrium quantity (b) Find the producers surplus at the equilibrium quantity.
  • Find consumer's surplus at the market equilibrium point given that the demand function is p = square root {324 - 52 x} and the supply function is p = x + 3.
  • Find consumer's surplus at the market equilibrium point given that the demand function is p = square root{289 - 48 x} and the supply function is p = x + 2.
  • Given: (x is number of items) Demand function: d(x) = 500 - 0.3x, Supply function: s(x) = 0.5x. Find the equilibrium quantity: [{Blank}] Find the producer's surplus at the equilibrium quantity: [{Blank}].
  • Suppose the supply function for concrete is given by S (q) = 100 + 3q^{3 / 2} + q^{5 / 2} and that supply and demand are in equilibrium at q = 9. Find the Producers' surplus.
  • Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given. \\ Supply: p = 50q \\ Demand: p = - q^2 + 8, 400
  • Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given. Supply: p = q^2+20q Demand: p=-4q^2+10q + 25,200
  • Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given. Supply: p = 60q Demand: p = -q^2 + 4000
  • Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given. Supply: p = q^2 + 20q Deman: p = -2q^2 + 10q + 15,400
  • The demand function for a certain product is p = 121 - 2x^2 and the supply function is p = x^2 + 33x + 22. Find the producer?s surplus at the equilibrium point.
  • The demand function for a product is D(x)=64-x^2 and the supply function is S(x)=3x^2 a. Find the equilibrium point. b. Find the consumer's surplus. Include a graph with your answer. c. Find the produ
  • The demand curve for a product is given by q = 160 - 2p, and the supply curve is given by q = 3p - 45. A. Find the consumer surplus at the equilibrium. B. Find the producer surplus at the equilibrium.
  • Find the consumer's surplus (given by \int_{0}^{q_o} D(q)-p_o dq) if the demand function for a particular beverage is given by D(q)=\frac{3000}{(3q+8)^2} and if the supply and demand are in equilibrium at q=4.
  • For the supply function s(x) = 0.06x^2 and the demand level x = 50. Find the Producer's Surplus.
  • Given the demand curve p = 35 - q^2 and the supply curve p = 3 + q^2, find the producer surplus when the market is in equilibrium.
  • If a demand and supply equation are given as: D\left( x \right) = 100} \over x}, \quad S\left( x \right) = 20 + x. a. Find the equilibrium. b. Find the consumers surplus.
  • If the demand and supply equation is given as follows: D(x) = 100/x, S(x) = 20+x (a) Find the equilibrium. (b) Find the consumers surplus.
  • Find the market equilibrium point for the following demand and supply functions. Demand: 2p = -q = 59, Supply: 3p - q = 46.
  • Find the consumers' surplus if the demand for an item is given by D (q) = 72 - q^2, assuming supply and demand are in equilibrium at q = 6.
  • Find the consumer's surplus if the demand function is p = D(q) = 200 - 0.3q^2 and the supply function is p = S(q) = 0.2q^2. Calculate the consumer's surplus.
  • Given supply function S(q) = q^2 + 15q and demand function D(q) = 1056 - 19q - q^2 in dollars. Graph the functions, find the point where the supply and demand are in equilibrium, the consumer's surplus, and the producer's surplus.
  • Find the equilibrium point for the pair of supply and demand functions. Demand: q=\frac{3}{x}, \ Supply: q=\frac{x}{12}
  • For the supply function s(x) and demand level x, find the producers' surplus. s(x) = 0.03x^2, x = 100
  • Find the (1) market demand, (2) market price, (3) consumers' surplus, and (4) producers' surplus for the following demand and supply functions: d(x)=100e^-0.01x and s(x)=100-200e^-0.02x Please use th
  • Find the equilibrium for the given supply and demand functions below. s(x)=x^{2} d(x)=(x-5)^{2}
  • Find the equilibrium for the given supply and demand functions: s(x) = x^2, d(x) = (x - 8)^2.
  • 1. Find the market equilibrium point (q,p) for the following demand and supply functions. Demand: -8p + 4q = -100 Supply: 3p - 3q = 24 2. Find the market equilibrium point (q,p) for the following d
  • The demand equation for a product is q = \sqrt{100-p} and the supply equation is q = \frac{p}{2} - 10 . Determine the consumers' surplus and producers' surplus under market equilibrium.
  • Given demand and supply functions d(x)=2000/x and s(x)=0.5 x, respectively, find both the consumers' surplus and producers' surplus at the level x=100
  • Find the produce's surplus at the market equilibrium for a product if its demand function is p = 169 - x^2 and its supply function is p = x^2 + 12x + 155. (Round answer to the nearest cent.)
  • Given the demand function d(x) = 200 - 0.14x and the supply function s(x) = 0.06x (a) Find the equilibrium price and quantity. (b) Find the Consumer's Surplus. (c) Find the Producer's Surplus.
  • Given a demand function D(x) = 20 - 0.05x and a supply function S(x) = 2 + 0.0002x^2, find the equilibrium point, consumers surplus and producer surplus. Provide the graph and indicate the CS and PS areas.
  • Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions were given. Supply p = 70q Demand p = -q^{2} + 6,000
  • Find the consumers' surplus if the demand function for grass seed is given by D(q)=\frac{200}{(3q+1)^2}and if supply and demand are in equilibrium at q=6.
  • Find the consumers surplus if the demand function for grass seed is given by \displaystyle D(q)=\frac{200}{(3q+1)^2} and supply and demand are at equilibrium at q = 6.
  • Find the equilibrium price and quantity for the demand function D(p) = 211,900 - 230p and supply function S(p) = 1,070 p
  • Given the demand function d(x)=360 - 0.03x^{2} and the supply function s(x)=0.006 x^{2}.Find the equilibrium price and quantity.Find the Consumer's Surplus.
  • Consider the following supply and demand functions, where price is expressed as a function of quantity. S(x) = 3x + 7 \\ D(x) = -2x + 17 a. Find the equilibrium quantity. b. Find the equilibrium p
  • In this problem, p is in dollars and x is the number of units. Find the producer's surplus at market equilibrium for a product if its demand function is p = 196 - x^2 and its supply function is p = x^2 + 4x + 126. \$ \boxed{\space}.
  • The demand function for a product is p = 300/(x + 2). If the equilibrium quantity is 8 units, what is the consumer's surplus?
  • The demand function for a product is p = {300} / (x + 1). If the equilibrium quantity is 9 units, what is the consumer's surplus?
  • Find the producer's surplus for a product with demand function p = 33 ( x + 1 ) and supply function p = 1 + 0.2 x where p is in dollars and x is the number of units. (Round your answer to two decimal places.)
  • Demand is given by p(q + 4) = 110 while supply is expressed by p - q = 5. Find the producer surplus.
  • If the supply function for a commodity is p = q^2 + 8q + 16 and the demand function is p = -15q^2 + 102q + 288, find the equilibrium quantity and equilibrium price.
  • Given the demand function [{MathJax fullWidth='false' D(p) = -5 p^2 + 55 p + 60 }]. Find each of the following: a) The p values that will make the demand function inelastic. b) The p values that wil
  • In this problem, p is in dollars and x is the number of units. The demand function for a product is p = 100 - x^2 and the supply function is p = x^2 + 10x + 52. Find the equilibrium point. Find the consumer's surplus there.
  • The demand and supply curves for a product are give as q - 4p = -28 q + 2p = 38 a. Find the exact consumer surplus at the equilibrium b. Find the exact producer surplus at the equilibrium
  • Find consumer surplus when given demand function p is in dollars and x is the number of units. The demand function for a product is p = 46 - x^2. If the equilibrium price is $10 per unit, what is the consumer's surplus?
  • The demand curve for a product is given by p = 100-2q and the supply curve is given by p = 10 +0.5q. Find the consumer and producer surplus.
  • a) Find consumer's surplus at the market equilibrium point given that the demand function is p = \sqrt{900 - 84x} and the supply function is p = x + 3. b) In May 1991, Car and Driver described a Ja
  • Find the consumers' surplus and the producers' surplus at the equilibrium price level for the given price-demand and price-supply equations. p = D (x) = 170 e^{-0.001 x} p = S (x) = 35e^{0.001 x}.
  • 1. Calculate the consumers' surplus at the indicated unit price. bar {p} for the demand equation. q = 50 - 3p; bar{p} =13 2. Calculate the producers' surplus for the supply equation at the indicated
  • Given D(x) = 60 e^(-0.02x) and S(x) = 40 e^(0.04x). a) Use the calculator to find the equilibrium point. b) Find the Producer Surplus and Consumer Surplus.
  • A market at equilibrium has a demand function D(q) = 7(q - 18)^2 + 17.00. The supply function S(q) is a linear function. Answer the following: a) Determine the market price if equilibrium is reached a
  • Find the surplus at market equilibrium for a product if its demand function is p = 196 - x^2 and its supply function is p = x^2 + 8x + 154. (Round your answer to the nearest cent.)
  • If t is the demand function for math self-help videos is p= D(x)= -3x + 27 and the corresponding supply function is p= S(x)= 4x - 1, determine the producer surplus at the market equilibrium point
  • Find the consumer's surplus and the producers' surplus at the equilibrium price level for the given price-demand and price-supply equations. Include a graph that the producers' surplus. p = D(x) =
  • Find the consumers' surplus and the producers' surplus at the equilibrium price level for the price-demand equation: p=D(x)=110e^{-0.005x}; and price-supply equation: p=S(x)=20e^{0.005x}. Round all va
  • Find the producer's surplus if the demand function is p = D(q) = 200 - 0.3 q^2 and the supply function is p = S(q) = 0.2 q^2. Calculate the producer's surplus rounded off to the nearest penny.
  • Find the consumers surplus and the producers surplus at the equilibrium prive leve for the given price-demand and price-supply equations, p = D(x)=25-0.004x^2; p=S(x)=5+0.004x^2, Include a graph that
  • If the supply function for a certain product is p = 6x + 8 and the demand function is p = -3x + 80, what is the producer's surplus? Graph the producer's surplus region.

Explore our homework questions and answers library

Browseby subject

    • Math
    • Social Sciences
    • Science
    • Business
    • Humanities
    • History
    • Art and Design
    • Tech and Engineering
    • Health and Medicine

Ask a Question

To ask a site support question,click here

Find the producer's surplus if the supply function for pork bellies is given by the following: S(q) = q^{5 / 2} + 4q^{3 / 2} + 52.  Assume supply and demand are in equilibrium at q = 16. | Homework.Study.com (2024)

References

Top Articles
Latest Posts
Article information

Author: Annamae Dooley

Last Updated:

Views: 5912

Rating: 4.4 / 5 (65 voted)

Reviews: 80% of readers found this page helpful

Author information

Name: Annamae Dooley

Birthday: 2001-07-26

Address: 9687 Tambra Meadow, Bradleyhaven, TN 53219

Phone: +9316045904039

Job: Future Coordinator

Hobby: Archery, Couponing, Poi, Kite flying, Knitting, Rappelling, Baseball

Introduction: My name is Annamae Dooley, I am a witty, quaint, lovely, clever, rich, sparkling, powerful person who loves writing and wants to share my knowledge and understanding with you.