Producer surplus ps - Study guides, Class notes & Summaries

DSC1520 ASSIGNMENT 1 SEMESTER 1 2022 POSSIBLE SOLUTIONS QUANTITATIVE MODELLING.QUANTITATIVE MODELLING (DSC1520) ASSIGNMENT 1 SEMESTER 1 (2022) The equation of the straight line is given by y = mx + c Use the point (3;1) to find c the y-intercept OPTION 1 S(t) = 1800 + 1500e− 0,3t+1,5 2000 = 1800 + 1500e− 0,3t+1,5 2000 - 1800 = 1500e− 0,3t+1,5 200 = 1500e−0,3t+1,5 Page 2 of 11 t = 12 days OPTION 4 a = 80 ; b = 0.5 OPTION 2 = = = = 1.5 - = ...

Mod 2 Lecture 5 Ch 8 Questions – Competitive Firms and Markets 1. In a competitive market, if buyers did not know all the prices charged by the many firms A. firms sell a differentiated product. B. the number of firms will most likely decrease. C. demand curves can be downward sloping for some or all firms. D. all firms still face horizontal demand curves. In perfect competition, buyers with FULL INFORMATION means no single firm can unilaterally raise p > market p* 2. In a perfe...

DSC1520 - Quantitative Modelling I. The daily rate of sales of a product (in units per day) is approximated by the exponential equation S(t) = 1 800 + 1 500e −0,3t+1,5 , with t the number of days it has been on the market. After how many days, rounded to a whole number, will the rate of sale be 2 000 units per day? [1] 4 [2] 7 [3] 11 [4] 12 [5] None of the above. Question 3 If the demand function is P = 80 − 0,5Q where P and Q are the price and quantity respectively, determine...