Given: (x is number of items)Demand function: d(x) = 264.6 – 0.2a?Supply function: s(x) = 0.4x?Find the equilibrium quantity:PreviewFind the consumers surplus at the equilibrium quantity:Preview

Equilibrium P(price) and x(quantity) is where the demand and supply for the product equals. The…

Given: (X is humber of items) Demand function: d(x) = 264.6 – 0.2x² Supply function: s(x) = 0.4x² - Find the equilibrium quantity: Preview Find the consumers surplus at the equilibrium quantity: Preview

Given: (X is humber of items) Demand function: d(x) = 264.6 – 0.2x² Supply function: s(x) = 0.4x² - Find the equilibrium quantity: Preview Find the consumers surplus at the equilibrium quantity: Preview

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter3: Market Demand And Supply

Section: Chapter Questions

Problem 8SQ

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Question

Given: (x is number of items)
Demand function: d(x) = 264.6 – 0.2a?
Supply function: s(x) = 0.4x?
Find the equilibrium quantity:
Preview
Find the consumers surplus at the equilibrium quantity:
Preview

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