The demand function for a product is p = 49 x2 and the supply function is

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The demand function for a product is p = 49 – x2 and the supply function is p=4x+4. Find the equilibrium point and the consumer’s surplus there.

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Microeconomics

ISBN: 978-1118572276

5th edition

Authors: David Besanko, Ronald Braeutigam

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Question Posted: Aug 05, 2013 04:14 AM

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The demand function for a product is p = 49 x2 and the supply function is

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At equilibrium point Demand Supply 49 x 2 4x 4 45 x 2 4...View the full answer

Microeconomics

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