The demand function for a product under pure competition is p = 64-4x, and the supply

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The demand function for a product under pure competition is p = √ 64-4x, and the supply function is p=x-1, where x is the number of units and p is in dollars.
(a) Find the market equilibrium.
(b) Find the consumer's surplus at market equilibrium.

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Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Question Posted: Feb 09, 2018 07:34 AM

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The demand function for a product under pure competition is p = 64-4x, and the supply

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Mathematical Applications for the Management Life and Social Sciences

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