Solution-What is the consumers surplus and the producers

What is the consumers surplus and the producers surplus

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Question: CONSUMERS' AND PRODUCERS' SURPLUS The quantity demanded x (in units of a hundred) of the Mikado miniature cameras/week is related to the unit price p (in dollars) by

p = -0.2x² + 80

And the quantity x (in units of a hundred) that the supplier is willing to make available in the market is related to the unit price p (in dollars) by

p = 0.1x² + x + 40

If the market price is set at the equilibrium price, find the consumers' surplus and the producers' surplus.

Reference no: EM131637234

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What is the consumers surplus and the producers surplus

Reference no: EM131637234

Reference no: EM131637234

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