Question: For a particular commodity, the quantity produced and the unit price are given by the coordinates of the point where the supply and demand curves


For a particular commodity, the quantity produced and the unit price are given by the coordinates of the point where the supply and demand curves intersect (equilibrium). Determine the point of equilibrium (go, Po ) and the consumers' and producers' surplus at that point. Demand curve: D(q) = p = 54 - 0.05q; Supply curve: S(q) = p = 15 + 0.08q Click the icon to view a graph of sample supply and demand curves. To determine the point of equilibrium, equate the demand and the supply, and gather like terms: (Type numeric coefficients without letters.) The equilibrium point is (do, Po) =(). Find the consumers' surplus: (D(9)-Po) da = )da [0] 0 0 0 substitute and simplify; find antiderivative Consumers' surplus = $ . (Type an integer or a decimal.) Find the producers' surplus: 0 J (Po - S(9)) da = )da (0)] 0 0 0 substitute and simplify; find antiderivative Producers' surplus = $ . (Type an integer or a decimal.)
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