contestada

The demand function of blankets at COMESA is given by the equation P=60-2Q find the units of good Q ,when P=12 and use integration to calculate the consumer surplus

Respuesta :

Answer:

a. 24

b. 864

Step-by-step explanation:

a. The demand function is:

P = 60 - 2Q

When P = 12:

12 = 60 - 2Q

2Q = 60 - 12

2Q = 48

Q = 48/2 = 24

b. Consumer surplus is given as the integral of Demand function:

[tex]CS = \int\limits {[P(Q) - (p)(Q)] \ dQ\\[/tex]

This implies that:

[tex]CS = \int\limits {60 - 2Q} \, dQ\\\\CS = 60Q - Q^2\\\\CS = (60 * 24) - 24^2\\\\CS = 1440 - 576\\\\CS = 864[/tex]

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