i need in words not handwritten Q:What is the producer surplus at equilibrium?Please round the intercept to the nearest tenth and round your answer to the nearest integer.Q:What is the unmet demand at equilibrium?Please round your answer to the nearest integer. mbamsubjects/4/1essons/3/quizzes/1626Assume that the demand curve D(p) given below is the market demand for widgets:Q = D(p)= 1737 – 16p, p > 0%3DLet the market supply of widgets be given by:S(p) =5 + 10p, p > 0where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded andsupplied at a given price.Q:What is the equilibrium price?Please round your answer to the nearest hundredth.What is the equilibrium quantity?Please round your answer to the nearest integer.Q:What is the consumer surplus at equilibrium?Please round the intercept to the nearest tenth and round your answer to the nearest integer.

Q= D(p)= 1737-16p, p>0 Q= S(p)= -5+10p, p>0

Answered: What is the producer surplus at…

Business

Economics

What is the producer surplus at equilibrium?

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter5: Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 1.1P: (Calculating Price Elasticity of Demand) Suppose that 50 units of a good are demanded at a price of...

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