For the two problems below show your work calculating the equilibrium point, the CS and PS. Make sure to supply clear interpretation. Also you must use integration to find the CS and PS2 as this topic is an application of integration.(15 points each) 1. Find the consumers" surplus and the producers surplus at the equilibritun price level for the given supply and demand equations. The demand and the supply function for a product are as follows: Demand: p = 50 -0.5x and Supply: p = 0.1253. Once you arrive at a number for the consumers" and producers surplus. inteipret what the munber means. (See note below) {CS = 1600. PS = 400) 2. Find the consumers' surplus and the producers stupius at the equilibrmm price level for the given supply and demand equations. The demand and the supply function for a product are as follows: Demand: p = 300 - X and Supply: p = 100 it. Once you arrive at a number for the consumers' and producers surplus. inte1pret what the munber means. (C5 = 5000, PS = 5000) Interpreting Consumers" Surplus and Producers' Surplus For example if the consumers' sluplus is $2.500. then that means that the total savings to constuners who are willing to pay a higher price for the product is 52.500. Slimlarly. if the producers' surplus is 53.500. then that means that the total gain to producers who are willing to supply units at a lower price is 83.500