Find the consumers' surplus and the producers' surplus at the equilibrium price level for the following...
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Find the consumers' surplus and the producers' surplus at the equilibrium price level for the following price-demand and price-supply equations. p= D(x) = 70 - 0.2x p= S(x) = 13 +0.0012x² Answer: At the equilibrium point, the price is CS= PS= (Price-demand equation) (Price-supply equation) and the demand is Find the consumers' surplus and the producers' surplus at the equilibrium price level for the following price-demand and price-supply equations. p= D(x) = 70 - 0.2x p= S(x) = 13 +0.0012x² Answer: At the equilibrium point, the price is CS= PS= (Price-demand equation) (Price-supply equation) and the demand is
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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