Question: Given the demand function and the supply function Find (a) the consumers surplus (b) the producers surplus assuming pure competition. P = -Q 4Qp +

Given the demand function

P = -Q – 4Qp + 68

and the supply functionP = Q + 2Qs + 12

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

P = -Q 4Qp + 68 P = Q + 2Qs + 12

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