Question: Suppose the supply function for a certain item is given (in dollars) by S(q) = (q + 1) 2 ,and the demand function is given

Suppose the supply function for a certain item is given (in dollars) by S(q) = (q + 1)²,and the demand function is given by D(q) 1000 q+1

(a) Graph the supply and demand curves.
(b) Find the point at which supply and demand are in equilibrium.
(c) Find the consumers’ surplus.
(d) Find the producers’ surplus.

D(q) 1000 q+1

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