Market supply and demand for ovens are given by p= S(q) = 900+25q and p = D(q) = 3000 - 10q The equilibrium price is $2400 per oven. (a) Find the market surplus up to equilibrium using the integral definition (b) Verify the market surplus by calculating MS = CS + PS. a. The market surplus is S IMANI

Market supply and demand for ovens are given by p= S(q) = 900+25q and p = D(q) = 3000 - 10q The equilibrium price is $2400 per oven. (a) Find the market surplus up to equilibrium using the integral definition (b) Verify the market surplus by calculating MS = CS + PS. a. The market surplus is S IMANI

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Chapter1: Making Economics Decisions

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Subject - economics

Market supply and demand for ovens are given by p= S(q) = 900+25q and p = D(q) = 3000 - 10q
The equilibrium price is $2400 per oven.
(a) Find the market surplus up to equilibrium using the integral definition
(b) Verify the market surplus by calculating MS = CS + PS
a. The market surplus is S
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