priceSuppose aproduct has asupplyfunction qiven bysk) =D P=%3Dand a demand function given16by Des= p = --x" + 6, where pPis Ahe unit price, and64xis Measured in units ofa Inhundred, Find the Cansumers and producers Surplusesdollars if the market orice is set atepitibrium.

Given; S(x)= p =116x2+1 D(x)= p =-164x4+6 where; p= unit price x is measured in unit of hundred At…

Suppose product has Supply function given by a s6) = P x* +1 and a denand function given 16 %3D %3D by De= is Ahe unit price, and where '9+ hundred, Find the Cansumers and producers Surpluses In 64 x is measured in units of a dollars if the market orice is set at

Suppose product has Supply function given by a s6) = P x* +1 and a denand function given 16 %3D %3D by De= is Ahe unit price, and where '9+ hundred, Find the Cansumers and producers Surpluses In 64 x is measured in units of a dollars if the market orice is set at

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

price
Suppose a
product has a
supply
function qiven by
sk) =D P=
%3D
and a demand function given
16
by Des= p = --x" + 6, where p
P
is Ahe unit price, and
64
xis Measured in units of
a In
hundred, Find the Cansumers and producers Surpluses
dollars if the market orice is set at
epitibrium.

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