Question: 4. The demand and supply functions for a particular commodity are D(x) = 25 - 0.004x3 and S(x) = 5 + 0.004x2, where x: is

 4. The demand and supply functions for a particular commodity are

D(x) = 25 - 0.004x3 and S(x) = 5 + 0.004x2, where

4. The demand and supply functions for a particular commodity are D(x) = 25 - 0.004x3 and S(x) = 5 + 0.004x2, where x: is the number of units of the product, D(x) is the price that results in a consumer demand of x units and S(x) is the price that results in a producer supply of x units a. Find the equilibrium point (you may use a calculator) and identify the equilibrium units and price. The value of x at equilibrium is units. The value of p at equilibrium is b. Setup the integral, with limits, to find the consumer's surplus at equilibrium. c. Setup the integral, with limits, to find the producer's surplus at equilibrium. b. Produce a graph that clearly shows the consumer's surplus and the producers' surplus Your graph must show the vertical intercept values, and fully label your graph

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