Calculus with Applications (10th Edition)

Published by Pearson
ISBN 10: 0321749006
ISBN 13: 978-0-32174-900-0

Chapter 7 - Integration - 7.5 The Area Between Two Curves - 7.5 Exercises - Page 406: 33

Answer

The Consumers’ Surplus is given by: $$ \begin{aligned} \text {Consumers’ surplus }&=\int_{0}^{q_{0}}[D(q)- p_{0}] d q \\ &=\int_{0}^{3}\left[\frac{200}{(3 q+1)^{2}}-2\right] d q\\ &=54. \end{aligned} $$

Work Step by Step

the demand function is given by $$ D(q)=\frac{200}{(3 q+1)^{2}} $$ equilibrium supply $p_0$ is when $q=3$, so we have: $$ \begin{aligned} p_0=D(3)&=\frac{200}{(3 (3)+1)^{2}}\\ &=\frac{200}{(10)^{2}}\\ &=\frac{200}{(100)}\\ &=2 \end{aligned} $$ Now, we know that: $$ \text {Consumers’ Surplus }=\int_{0}^{q_{0}}[D(q)- p_{0}] d q $$ So, the Consumers’ Surplus is given by: $$ \begin{aligned} \text {Consumers’ surplus }&\int_{0}^{q_{0}}[D(q)- p_{0}] d q \\ &=\int_{0}^{3}\left[\frac{200}{(3 q+1)^{2}}-2\right] d q\\ &=\int_{0}^{3} \frac{200}{(3 q+1)^{2}} d q-\int_{0}^{3} 2 d q \\ &\quad\quad\quad\left[\begin{array}{c}{ \text {Let }u=3q+1, q : 0 \rightarrow 3 } \\ { \text {Then }d u=3d q}, u:1 \rightarrow 10 \end{array}\right] \\ &=\frac{1}{3} \int_{1}^{10} \frac{200}{u^{2}} d u-\int_{0}^{3} 2 d q\\ &=\frac{200}{3} \int_{1}^{10} u^{-2} d u-\int_{0}^{3} 2 d q \\ &=\left.\frac{200}{3} \cdot \frac{u^{-1}}{-1}\right|_{1} ^{10}-\left.2 q\right|_{0} ^{3}\\ &=-\frac{200}{30}+\frac{200}{3}-6\\ &=54. \end{aligned} $$
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.