11. For a particular product the Demand and Supply functions are D(x) = 200.05x and S(x)=2+0.002x² Sketch the graphs and using your calculator determine the equilibrium quantity and price. On the graph shade the consumers' and producers' surplus regions. Find the producers' and consumers' surplus.

11. For a particular product the Demand and Supply functions are D(x) = 200.05x and S(x)=2+0.002x² Sketch the graphs and using your calculator determine the equilibrium quantity and price. On the graph shade the consumers' and producers' surplus regions. Find the producers' and consumers' surplus.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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