Answer to Question #43226 in Microeconomics for kelvin
Suppose supply of a good is perfectly elastic at a price of $5. The market demand curve for this good is linear, with zero quantity demanded at a price of $25. Given that the slope of this linear demand curve is -0.25, draw a supply and demand graph to illustrate the consumer surplus that occurs when the market is in equilibrium.
If Ed = -0.25 and quantity demanded is zero at P = $25, then Qd = 25 -0.25P.
As Qs = 5, in equilibrium Pe = $5. Qe = 25 - 0.25*5 = 23.75 units.
I'm extremely impressed with your work. In fact, I am likely going to change major to computer science from next semester. Before turning to you for help, I thought its all over and there is simply no one who can offer expert programming help. I had no hope at all. My experiences with other sites were horrible.
By chance I contacted you about 7 months back and it was amazing when I looked at your work. From thereon, I decided to rely on you only.