Question: Please Show All Work, if needed! Place answers in ANSWER box, if provided. 1. (6 points) Suppose the supply function for a certain item is

Please Show All Work, if needed! Place answers in Please Show All Work, if needed! Place answers in ANSWER box, if provided. 1. (6 points) Suppose the supply function for a certain item is given by S(x) = x?+/0x, and the demand function is given by D(x) = 900-20x-x', determine the following: a) Find the equilibrium point. la) : b) Find the consumer surplus at the equilibrium point. ib) : c) Find the producer surplus at the equilibrium point

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