Question: 1. (25 pts. The demand function for a product is 50q p = 60 - q2 + 3600 and the supply equation is p =

1. (25 pts. The demand function for a product is 50q p = 60 - q2 + 3600 and the supply equation is p = 10 ln(q + 20) - 25 Determine consumers' and producers' surplus under market equilibrium. (Round your final answer to the nearest integer.)

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