Question: Assume that the demand curve D ( p ) given below is the market demand for widgets: Q = D ( p ) = 1

Assume that the demand curve D(p) given below is the market demand for widgets:
Q=D(p)=158014pQ=D(p)=1580-14p, p >0
Let the market supply of widgets be given by:
Q=S(p)=4+8pQ=S(p)=-4+8p, p >0
where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price.
What is the equilibrium price?
Please round your answer to the nearest hundredth.
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What is the equilibrium quantity?
Please round your answer to the nearest integer.
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What is the consumer surplus at equilibrium?
Please round the intercept to the nearest tenth and round your answer to the nearest integer.
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What is the producer surplus at equilibrium?
Please round the intercept to the nearest tenth and round your answer to the nearest integer.
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What is the unmet demand at equilibrium?
Please round your answer to the nearest integer.

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