For the given demand function and supply function: 0 for p< 4 lp? for p24 D(p) = -p? + 49 billion units, S(p) = billion units, p dollars per unit, find the social gain at market equilibrium. Round your final answer to two decimal places and don't include units with your answer.

For the given demand function and supply function: 0 for p< 4 lp? for p24 D(p) = -p? + 49 billion units, S(p) = billion units, p dollars per unit, find the social gain at market equilibrium. Round your final answer to two decimal places and don't include units with your answer.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

For the given demand function and supply function:
for p< 4
p² for p 24
D(p) = - p? + 49 billion units, S(p) =
billion units, p dollars per unit, find
the social gain at market equilibrium. Round your final answer to two decimal places and
don't include units with your answer.

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