Question: _ . This test: 20 point(s) possible 023 Jamal This question: 1 point(s) possible Submit test Demand for apartments in a certain town is D(x)

 _ . This test: 20 point(s) possible 023 Jamal This question:

1 point(s) possible Submit test Demand for apartments in a certain town

_ . This test: 20 point(s) possible 023 Jamal This question: 1 point(s) possible Submit test Demand for apartments in a certain town is D(x) = 664 2x, and the supply is S(x) = 400 + 9x, where x is the number of apartments, in hundreds, and D(x) and S(x) are the rent in dollars per month. per apartment. a) Find the equilibrium point. b) Find the consumer surplus and producer surplus. c) Suppose a maximum rent of $472 per month is imposed by the town council. Find the point (x0, pC). d) Find the new consumer surplus and new producer surplus. e) Find the deadweight loss. E} I a) Which of the following would be the best rst step to nd the equilibrium point? A O A. Solve D(x) =S'(x) for x, l O B. Solve 000 = S(x) for x. O C. Find the value of q such that j; Dtx) dx = j] S(x) dx. 0 o O D. Solve D'tx) = S'(x) for X

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