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# BBMP1103 - Sept 2011 exam workshop - part 9

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### BBMP1103 - Sept 2011 exam workshop - part 9

1. 1. BBMP 1103 Mathematic ManagementExam Preparation Workshop Sept 2011 Part 9 – Consumer’s Surplus and Critical Point Presented By: Dr Richard Ng 26 Nov 2011 2ptg – 4ptg
2. 2. 9. Focus on Consumers’ Surplus There are consumers who are willing to pay more than the equilibrium price, so they benefit from the lower equilibrium price. The area of A represents the consumers’ surplus.Prepared by Dr Richard Ng (2011) Page 2
3. 3. Question: 20 (January 2011) Suggested Answers: p = 200 – q2 (q + 10)(q – 4) = 0 p = 6q + 160 q = -10 and q = 4 6q + 160 = 200 – q2 p = 200 – (4)2 = 200 – 16 = 184 q2 + 6q – 40 = 0Prepared by Dr Richard Ng (2011) Page 3
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6. 6. 10. Focus on Critical PointPrepared by Dr Richard Ng (2011) Page 6
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11. 11. Question: 21 (May 2010)Prepared by Dr Richard Ng (2011) Page 11
12. 12. Question: 22 (September 2009)Prepared by Dr Richard Ng (2011) Page 12
13. 13. End of Exam WorkshopPrepared by Dr Richard Ng (2011) Page 13