Paul, colin and brian are waiters. One night the restaurant earns tips totalling £71. 10. They share the tips in the ratio 2:3:4
1 answer:
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The value of the consumer surplus is 11.25 while the producer surplus is 8.75.
<h3>How to calculate the consumer surplus?</h3>To calculate the consumer surplus we must find the value of the hypotenuse using the Pythagorean theorem and then the area of the upper triangle.
5² + 4,5² = c²
25 + 20,25 = c²
45,25 = c²
= c
6,72 = c
Now we need to calculate the area of the triangle.
A = <em>bh</em>
A = (5)(4,5)
A = 22,5
A = 11,25
According to the above, we can infer that the area of the triangle is 11.25, so the consumer surplus is 11,25.
<h3>How to find the producer surplus value?</h3>To find the value of the producer surplus we must calculate the hypotenuse and the area of the lower triangle.
3,5² + 5² = c²
12,25 + 25 = c²
37,25 = c²
= c
6,10 = c
According to the above, side h of the triangle is equal to 6.10. Now we need to calculate the area of this triangle.
A = bh
A = (5)(3,5)
A = 17,5
A= 8,75
So the area of the bottom square that represents the producer surplus is 8.75
Note: This question is incomplete because the graph is missing. Here is the graph.
Learn more about supply and demand in: brainly.com/question/13353440
