Question: Given: ( x is number of items) Demand function: d(x)=5000.4x Supply function: s(x)=0.4x Find the equitibrium quantity: Find the consumers surplus at the equilibrium quantity
Given: ( x is number of items) Demand function: d(x)=5000.4x Supply function: s(x)=0.4x Find the equitibrium quantity: Find the consumers surplus at the equilibrium quantity
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
