Use the following demand and supply functions, where 

 p

is the price (in dollars per unit) and

x

is the number of units (in millions) and the graph.\ Demand:

p=945-21x

\ Supply:

p=42x

\ Select the appropriate bounds of integration and expressions in the integrand to complete the consumer surplus formula.\

CS =\\\\int . dx

\ Select the appropriate bounds of integration and mathematical expressions in ihe integrand to complete the producer surplus formula.

Transcribed Image Text:

13. DETAILS Use the following demand and supply functions, where p is the price (in dollars per unit) and x is the number of units (in millions) and the graph. Demand: p=945-21x Supply: p=42x P 1200 1000 Demand 800 15,630) 600 400 200 Supply -5 0 5 10 15 20 25 Select the appropriate bounds of integration and expressions in the integrand to complete the consumer surplus formula. C5- )dx Select the appropriate bounds of integration and mathematical expressions in the integrand to complete the producer surplus formula. 13. DETAILS Use the following demand and supply functions, where p is the price (in dollars per unit) and x is the number of units (in millions) and the graph. Demand: p=945-21x Supply: p=42x P 1200 1000 Demand 800 15,630) 600 400 200 Supply -5 0 5 10 15 20 25 Select the appropriate bounds of integration and expressions in the integrand to complete the consumer surplus formula. C5- )dx Select the appropriate bounds of integration and mathematical expressions in the integrand to complete the producer surplus formula.

Answer rating: 100% (QA)

To calculate consumer surplus CS and producer surplus PS us... View the full answer