Chapter 6, Problem 50RE

Consumers' and producers' surplus. Find the consumers’ surplus and the producers’ surplus at the equilibrium price level for each pair of price–demand and price-supply equations. Include a graph that identifies the consumers’ surplus and the producers’ surplus. Round all values to the nearest integer.

(A) p = D(x) = 70− 0.2x;

p = S(x) = 13 + 0.0012x²

(B) p = D(x) = 70− 0.2x;

p = S(x) = 13e^0.006x