Question: I'IHIIIH The demand function for a product is 0(1) = 54 x3 and the supply function is 31.11:) = Bill:2 a. Find the equilibrium point.

 I'IHIIIH The demand function for a product is 0(1) = 54

I'IHIIIH The demand function for a product is 0(1) = 54 x3 and the supply function is 31.11:) = Bill:2 a. Find the equilibrium point. b. Find the consumer's surplus. Include a graph with your answer. c. Find the producer's surplus. Include a graph with your answer. Continuous Morleyr Flow. Find the total income in 3 years by a continuous 32:31:45 flow with a rate of t) = em\" and the present value in 3 years with Hint: You may need to look at the formulas in Section 13.4

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