Question: Solve this Practice Questions 22 . 9 . 20 (1) Given the demand function P = 113- 8 and supply function P S = (

Solve this

Practice Questions 22 . 9 . 20 (1) Given the demand function P = 113- 8 and supply function P S = ( Q + 1 ) 2 Under competition, find consumer surplus and producer surplus. ( 2 ) Under a monopoly the quantity sold and market price are determined by the demand function. If the demand function for a profit maximizing monopolist is P= 274- 8 and MC = 4+38, find the consumer surplus

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