Suppose that you are the vice president of operations of a manufacturing firm that sells an industrial lubricant in a competitive market. Further suppose that your economist gives you the following supply and demand functions: Q=49-2P Demand: Supply: QS What is the consumer surplus in this market? Consumer surplus is $ 20.25. (Enter your response rounded to two decimal places.) What is the producer surplus? Producer surplus is $ = -11+P. (Enter your response rounded to two decimal places.)

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