This year is expected to be a great one for selling walk shoes in Georgia. At very low prices, only the most efficient shoemaker
s are able to sell. There are two shoe producers that operate with the most cost-effective equipment and skilled personnel, each of which can put 1000 shoes in the market at $10. At a higher price, eight more shoemakers will enter the market. Each producer makes 12000 shoes at $25 per pair. If the price goes to $40 per pair, the existing firms increase production to 1400 each, plus four small shops open, each of which produces 500 shoes. Graph the supply curve.
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Answer:
The sum of the area of the shaded regions = 0.248685
Explanation:
The sum of the area of the shaded region is given as follows;
The point of intersection of the graphs are;
y = x/2
y = sin²x
∴ At the intersection, x/2 = sin²x
sinx = √(x/2)
Using Microsoft Excel, or Wolfram Alpha, we have that the possible solutions to the above equation are;
x = 0, x ≈ 0.55 or x ≈ 1.85
The area under the line y = x/2, between the points x = 0 and x ≈ 0.55, A₁, is given as follows
1/2 × (0.55)×0.55/2 ≈ 0.075625
The area under the line y = sin²x, between the points x = 0 and x ≈ 0.55, A₂, is given using as follows;
Therefore;
∴ A₂ =1/2 × ((0.55 - sin(0.55)×cos(0.55)) - (0 - sin(0)×cos(0)) ≈ 0.0522
The shaded area, = A₁ - A₂ = 0.075625 - 0.0522 ≈ 0.023425
Similarly, we have, between points 0.55 and 1.85
A₃ = 1/2 × (1.85 - 0.55) × 1/2 × (1.85 - 0.55) + (1.85 - 0.55) × 0.55/2 = 0.78
For y = sin²x, we have;
The shaded area, = A₄ - A₃ = 1.00526 - 0.78 ≈ 0.22526
The sum of the area of the shaded regions, ∑A = +
∴ A = 0.023425 + 0.22526 = 0.248685
The sum of the area of the shaded regions, ∑A = 0.248685