A popular three-story dollhouse has a price-demand equation given by p = D(x) = 174 - 0.7x and the price-supply equation

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A Popular Three Story Dollhouse Has A Price Demand Equation Given By P D X 174 0 7x And The Price Supply Equation 1 (31.71 KiB) Viewed 33 times

A popular three-story dollhouse has a price-demand equation given by p = D(x) = 174 - 0.7x and the price-supply equation is given by p = S(x) = 0.3x + 124, where x is the number of dollhouses demanded/supplied when the price is p dollars each. (Round your answers to the nearest cent if necessary.) (a) Find the consumers' surplus for the dollhouses. $ (b) Find the producers' surplus for the dollhouses. MY NOTES ASK YOUR TEACHER 10. [-/1 Points) DETAILS 356.010. 0/6 Submissions Used The price-demand equation for a particular flashlight is given by p - 116 -0.004%, where x is the number of flashlights demanded when the price is p dollars each The flashlight manufacturers will produce no flashlights if the price is $74 or less, and they will market 5.500 flashlights when the price is $96 per flashlight. (Assume the price-supply equation is linear) (a) Find the consumers' surplus for this commodity (b) Find the producers' surplus for this commodity