Lesson 21 Other Applications of Integration

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Presentation transcript:

Lesson 21 Other Applications of Integration MATH 1314 Lesson 21 Other Applications of Integration

Consumer Surplus and Producer Surplus

Intersect(D(x), 4)

Integral(D(x), 0, 10) 51.6667-(4*10)

intersect(D(x),S(x))

Integral(D(x), 0, 20)-(20*15)

(15*20)-Integral(S(x), 0, 20)

Probability

Integral(f(x), 500, 1000)

Integral(P(x), .30, .60)

Integral(P(x), .50,1)

Popper 26: The demand function of a product is given by d(x)=-.2x2 + 2x + 4 and the supply function is given by s(x) = 0.04x2. Determine the consumer and producer surplus at market price. Determine the equilibrium price. Determine the equilibrium quantity. Determine the QEPE value. Determine the consumer surplus. Determine the producer surplus. a. 40 b. 33.33 c. 4 d. 26.67 e. 10