Question: Suppose that the demand for textbooks, Q D , is represented by the following equation, where P is the price of a textbook and Q

Suppose that the demand for textbooks, Q_D, is represented by the following equation, where P is the price of a textbook and Q_Dis the number of textbooks demanded: Q_D=2,000.00-20.00P. The supply of textbooks, Q_S, is represented by the equation: Q_S=-100.00+10.00P. The equilibrium price is $ (round your answer to two decimal places). The equilibrium quantity is (round your answer to two decimal places - for the purposes of this problem, imagine it is possible to sell a fraction of a book).

Part 2(2points)Feedback

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At the equilibrium price and quantity from Part 1, consumer surplus is $ , and producer surplus is $ (round your answers to two decimal places).

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