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function for an electronics company's car stereos is D(9) a) At what price is the market for the stereos in equilibrium? p) Compute the total surplus corresponding to the price from part (a). c) What is the maximum total surplus? 169 and the supply function is S(q) = 299 +

function for an electronics company's car stereos is D(9) a) At what price is the market for the stereos in equilibrium? p) Compute the total surplus corresponding to the price from part (a). c) What is the maximum total surplus? 169 and the supply function is S(q) = 299 +

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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6.2 Q6) Hey, I need help with the following proble, thank you!

The demand function for an electronics company's car stereos is D(q) = 222.8 - 16g and the supply function is S(q) = 29g + 51.8, where q is measured in thousands. (a) At what price is the market for the stereos in equilibrium? $ (b) Compute the total surplus corresponding to the price from part (a). (c) What is the maximum total surplus? $
Transcribed Image Text:The demand function for an electronics company's car stereos is D(q) = 222.8 - 16g and the supply function is S(q) = 29g + 51.8, where q is measured in thousands. (a) At what price is the market for the stereos in equilibrium? $ (b) Compute the total surplus corresponding to the price from part (a). (c) What is the maximum total surplus? $
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