6. [-/16.7 Points] DETAILS WANEFMAC7 14.4.037. MY NOTES PRACTICE ANOTHER A study of a country's colleges and universities resulted in the demand equation q = 20,000 - 2p, where q is the enrollment at a public college or university and p is the average annual tuition (plus fees) it charges. Officials at Enormous State University have developed a policy whereby the number of students it will accept per year at a tuition level of p dollars is given by q = 6,400 + 0.5p. Find the equilibrium tuition price p and the consumers' and producers' surpluses at this tuition level. What is the total social gain at the equilibrium price? HINT [See Example 3.] equilibrium tuition price P = $ consumers' surplus CS = $ producers' surplus PS : $ total social gain Need Help? Read It Watch It