Consumers' Surplus

The demand function for a certain brand of CD is given by

p = 0.01x² 0.2x + 12

where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Determine the consumers' surplus (in dollars) if the market price is set at $9/disc. (Round your answer to two decimal places.)

Producers' Surplus

The demand function for a certain brand of CD is given by

p = 0.01x² 0.2x + 20

where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. The supply function is given by

p = 0.01x² + 1.1x + 5

where p is the unit price in dollars and x stands for the quantity that will be made available in the market by the supplier, measured in units of a thousand. Determine the producers' surplus if the market price is set at the equilibrium price. (Round your answer to the nearest dollar.)