Question: This is Section 5 . 1 Problem 3 4 : For the demand and supply functions p = D ( x ) = 3 6
This is Section Problem :
For the demand and supply functions
pDxx
and
pSxx
answer the following:
a The equilibrium point
xE pE
is Use decimals.
b The consumers' surplus at the equilibrium demand is
c The producers' surplus at the equilibrium demand is
Hint: Follow Example
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