Question: demand for a product is given by Q D =80-5P, where Q D is quantity per year measured in kilogram and P is price in

demand for a product is given by QD=80-5P, where QD is quantity per year measured in kilogram and P is price in AUD per kilogram. The supply curve for this product is given by QS=2.5P-10.

Determine the consumer surplus and producer surplus at the equilibrium price

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