Find the producer surplus at the equilibrium price

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Reference no: EM131173887

Suppose the demand for a product is given by p=d(q)=−0.8q+150

and the supply for the same product is given by p=s(q)=5.2q

For both functions, q is the quantity and p is the price, in dollars.

1. Find the equilibrium point.

2. Find the consumer surplus at the equilibrium price.

3. Find the producer surplus at the equilibrium price.

Reference no: EM131173887

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