Question: Please I need some help solving this problems, Thanks 3) You are given the following demand and supply equations: Q D = 75 -10P(demand) Q

Please I need some help solving this problems, Thanks

3) You are given the following demand and supply equations:

Q_D= 75 -10P(demand)

Q_S=5P(supply)

Calculate consumer surplus and producer surplus at the equilibrium you found earlier.

6) Given the following demand and supply equations:

Q_D= 75 -10P(demand)

Q_S=5P(supply)

If demand increases by 15 units along the quantity axis find the new equilibrium price and quantity.

15) You are given the following demand and supply equations:

Q_D= 75 -10P(demand)

Q_S=5P(supply)

Find the equilibrium price and quantity.

16) If the price of good X decreases by 0.5% and the price elasticity of demand is 1.4, find the percentage change in quantity demanded and the percentage change in revenue.If you want to increase revenue should you increase or decrease the price in this case?

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