Find the consumers' surplus and the producers' surplus at the equilibrium level for the given price-demand and price-supply equations. Include a graph that identifies the consumers surplus and the producers' surplus. Round all values to the nearest integer p-Dix) 40.4-0.06x; p S(x)=14+0.05x The value of x at equilibrium is The value of p at equilibrium is $ The consumers' surplus at equilibrium is $ The producers' surplus at equilibrium is!

Find the consumers' surplus and the producers' surplus at the equilibrium level for the given price-demand and price-supply equations. Include a graph that identifies the consumers surplus and the producers' surplus. Round all values to the nearest integer p-Dix) 40.4-0.06x; p S(x)=14+0.05x The value of x at equilibrium is The value of p at equilibrium is $ The consumers' surplus at equilibrium is $ The producers' surplus at equilibrium is!

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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