Question: Please show work/steps. Thank you! 5. 1.9 Question Help D(x) is the price, in dollars per unit, that consumers are willing to pay for x

Please show work/steps. Thank you!

Please show work/steps. Thank you! 5. 1.9 Question Help D(x) is the

5. 1.9 Question Help D(x) is the price, in dollars per unit, that consumers are willing to pay for x units of an item, and S(x) is the price, in dollars per unit, that producers are willing to accept for x units. Find (a) the equilibrium point, (b) the consumer surplus at the equilibrium point, and (c) the producer surplus at the equilibrium point. D(x) =7 - x, for 0 Sx$ 7; S(x) = Vx+13 (a) What are the coordinates of the equilibrium point? (Type an ordered pair.)

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