Exercise 3.3: Application of Integration in Economics and Commerce

Exercise 3.3

1. Calculate consumer’s surplus if the demand function p = 50 âˆ’ 2x and x = 20

2. Calculate consumer’s surplus if the demand function p = 122 âˆ’ 5x âˆ’ 2x2 and x = 6

3. The demand function p = 85 âˆ’ 5x and supply function p = 3x âˆ’ 35 . Calculate the equilibrium price and quantity demanded .Also calculate consumer’s surplus.

4. The demand function for a commodity is p = e−x . Find the consumer’s surplus when p = 0.5.

5. Calculate the producer’s surplus at x = 5 for the supply function p = 7 + x.

6. If the supply function for a product is p = 3x + 5x2 .Find the producer’s surplus when x = 4.

7. The demand function for a commodity is p = 36/ x+4  . Find the consumer’s surplus when the prevailing market price is ₹6.

8. The demand and supply functions under perfect competition are pd = 1600 âˆ’ x2 and ps = 2x2 + 400 respectively. Find the producer’s surplus.

9. Under perfect competition for a commodity the demand and supply laws are pd = (8 / [x + 1]) − 2 and ps = [x + 3] / 2 respectively. Find the consumer’s and producer’s surplus.

10. The demand equation for a products is x = âˆš[100 – p] and the supply equation is x = p/2 −10. Determine the consumer’s surplus and producer’s surplus, under market equilibrium.

11. Find the consumer’s surplus and producer’s surplus for the demand function pd = 25 âˆ’ 3x and supply function ps = 5 + 2x.

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