26. D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. D(x) = 6 – x, for 0s xs6; S(x) = /x +6 (a) What are the coordinates of the equilibrium point? (Type an ordered pair.)
26. D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. D(x) = 6 – x, for 0s xs6; S(x) = /x +6 (a) What are the coordinates of the equilibrium point? (Type an ordered pair.)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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