Surpluses at the equilibrium position, Econometrics

The inverse demand and supply functions for a product are given as:

2438_123.png


 where P  is  price, Q  is  quantity  and  the  subscripts  d  and  show demand and supply, respectively.
 
(a)  Determine the equilibrium price and quantity.

(b)  Using the definite integral, calculate the consumer and producer surpluses at the equilibrium position.

(c)  Give your answers to part (a) and (b) on an appropriate diagram.

 

Posted Date: 3/25/2013 5:25:33 AM | Location : United States







Related Discussions:- Surpluses at the equilibrium position, Assignment Help, Ask Question on Surpluses at the equilibrium position, Get Answer, Expert's Help, Surpluses at the equilibrium position Discussions

Write discussion on Surpluses at the equilibrium position
Your posts are moderated
Related Questions
Suppose time-series data has been generated according to the following process: where t is independent white noise. Our main interest is consistent estimation of Φ from r

demand analysis of fast food among civil servant

(a) Describe all tests that you need to undertake prior to working with time series data. (b) Consider the following regression result: Standard Errors: (6.7525)

How to test the linear regression?

I am beginning my thesis and I need some advice. I am trying to estimate a probit model. The binary dependent variable is employment status and the independent variables include:

Would you please advise me what would be the code in Eviews if I have first dependent variable in continuous data, second censor data and third discrete data in my system (structu

compare the price elasticity of demand on two parallel demand curves for a given price and for a given quantity

how do l get a co factor of a matrix

remedial measure of multicolinearity

what are factors contributing to the long run trend interms of trade of developing countries?