1. If the demand function for math anxiety pills is p = D(x) = 3x + 72 and the corresponding supply function is p = S(x) = 4x + 2, determine the consumer and the producer surplus at the market equilibrium point. Consumer surplus = ______dollars Producer surplus = ________dollars

2. Suppose the daily supply equation for noise cancelling wireless headphones is given by p = S(x) = 90 + 80e^0.08x where p is in dollars and x is the number of headphones produced daily. Determine the quantity supplied if the market price is 250 dollars. A. Quantity supplied (exact value) =______units

B. Determine the producer surplus at the market price of 250 dollars. Producer surplus (exact value) = _______dollars

C. Producer surplus (rounded to the nearest dollar) = __________dollars

3. The demand and supply functions for Penn State ice hockey jerseys are:

p = d(x) =	2x2 5x + 676
p = s(x) =	4x2 + x + 16

where x is the number of hundreds of jerseys and p is the price in dollars. (a) Find the equilibrium quantity. Equilibrium quantity, x =___________ , which corresponds to ___________ jerseys. (b) Compute the total surplus at the equilibrium point. Total surplus = _________dollars