Given the demand function and the supply function Find (a) the consumers surplus (b) the producers surplus

Question:

Given the demand function

and the supply function

Find
(a) the consumer’s surplus
(b) the producer’s surplus assuming pure competition.

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Related Book For answer-question

Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

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Question Posted: Apr 18, 2019 10:10 AM

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Given the demand function and the supply function Find (a) the consumers surplus (b) the producers surplus

Question:

P = -Q – 4Qp + 68 P = Q + 2Qs + 12

Step by Step Answer:

In equilibrium Qs D Q so Q 201204068 20 60560 Q 30280 This qua...View the full answer

Mathematics for Economics and Business

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